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Capital Gains from property sale
Can proceeds from sale of plots (open plots...nothing constructed) be used to purchase a new flat to avoid long term capital gains tax or do i need to buy plots again? I have held these properties for almost 10 years
Replies (4)
See section 54
Your idea of selling plot and then buying new flat will entitle you to claim Deduction under Section 54F in respect of long term capital gain.
Go ahead
Small correction.. you have to claim deduction under 54F
Thank you all
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