19 September 2021
I have already sold a property and the gain was invested in Capital Gain in a Bond with National Highway authority.in 2018 for an amount of Rs.40 lakhs. Now i intend to sell another property for around Rs.205 lakhs and the gain would be around 70 lakhs. Can i invest in capital gain bond an amount of Rs.50 lakhs now and get the tax exemption and pay tax for the balance amount of Rs.20 lakhs.
If not what is the alternative available for availilng the benefit
19 September 2021
Both the transaction are independent, due to different assessment years. You can very well invest Rs. 50 lakhs additionally (within six months from the sell/transfer of your second property,) and save the LTCG tax u/s. 54EC of IT act.
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