Sale of property
This query is : Resolved
10 February 2019
I have 2 houses (joint - me & my wife) in my name and 2 land (plots). Recently sold one of flat (100% cheque payment).
Can I reinvest the Capital gains arriving out of sale in purchasing a flat?
Note: I had reinvested earlier on (4 years ago) the similar captial gains to buy land from a house sale.
Thank you
Can I reinvest the Capital gains arriving out of sale in purchasing a flat?
Note: I had reinvested earlier on (4 years ago) the similar captial gains to buy land from a house sale.
Thank you
Amol S Joglekar
(Expert)
10 February 2019
yes, you can do that to avail the benefits of section 54 of income tax act
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