Investment of long term capital gain on sale of LAND
This query is : Open
30 December 2020
I HAVE SOLD A PLOT IN JUNE 2017 HAVE CAPITAL GAIN THAT DEPOSITED WITH BANK OF INDIA IN CAPITAL DEPOSIT ACCOUNT. CAN I PURCHASEN IN JANUARY A FLOOR IN NEW BUILDING AND GET TAX EXEMPTION IN MY ITR 21-22.
IS THERE ANY OPTION OTHERWISE TO EXEMPTION
CAN U SUGGEST ANY EXPERT IN THIS FIELD IN DELHI
HOPE EARLY REPLY
IS THERE ANY OPTION OTHERWISE TO EXEMPTION
CAN U SUGGEST ANY EXPERT IN THIS FIELD IN DELHI
HOPE EARLY REPLY
CA Rashmi Gandhi
(Expert)
26 January 2021
No you can't do so. As per Sec 54F you have to purchase the new property within 2 years from date of sale.
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