Hello,
If industrial building property is sold after holding 20 years , will there be any long term capital gain tax and secondaly if with this sale price or gain a person now plan to pruchase a commercial property. will it be exempted from paying the long term capital gain tax under section 54?(As section 54 provides exemption only on purchse or construction of RESIDENTIAL property, not on byuing commercial shop or property.)
Thnx in advance
CAclubindia
