Capital gain on sale of flat and plot

Are both gains Long Term?

yes both are Long term Gains

Dear sir,

Inrespect of capital gains from sale of flat, you have an option invest u/s 54 or u/s54F, Sec 54 being the obvious better choice. However, in respect LTCG on of sale of plot, your option for investing in residential property is restricted to Sec. 54F.

Please not the difference between the two nature of investments:

You must already know about the limitations of period, so I am not elaborating on that.

As regards your query, Rs. 7 Lacs + amount of Sale Consideration of PLOT need to be invested in the new residential house to claim exemption under both sections.

Hope this helps.

Thanks for Very Clear & Preciouse Reply.