Hello,
I have an HUF proprietorship firm and a long term investment in industrial property in the name of the firm. If I intend to sell that property and invest the amount in another industrial property within th same financial year, would th capital gains tax come in to effect? Would I be liable to pay for the same?
I know if I invest in residential then I would be exempt but here the selling & buying, both properties are industrial.
Requesting expert CAs to advice on same. Thank you.