Sale of residential land open plot
This query is : Resolved
TAILOR NAGENDRA REDDY
(Querist)
01 January 2018
Sir, I sold my residential land open plot and with the result i got the capital gain, however, the same sale proceeds were re invested in another house property, which is under construction, within in one year. I have four residential properties and all of them were let out. now kindly advice me whether my sales proceeds would qualify for the capital gain tax.
01 January 2018
Your are not eligible for capital gains exemption. Inference - section 54F
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