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Capital gains tax

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My mother ( 82 years) sold house/residential flat in her name, on 30 Aug 2018. There was capital gain.The amount was transferred to a capital gains account in Feb 2019. I have following questions on this ,

1. Do senior citizens have any exemptions with respect to capital gains?

2. What is the last date by which she has to invest capital gains in a new residential property?

3. Under prevailing situation ( COVID 19), has any exemptions/ relief measures been declared/applicable to this scenario?
Replies (1)
Since, your mother has deposited the capital gains amount in capital gains account scheme with in time, as of now there's no compulsion to invest the same in new property immediately. however, the capital gains amount required to be invested by way of purchase, within 2 years i e. 30/08/2020 or by way of construction, within 3 years i e. 30/08/2021, from the date of sale of original asset i e 30/08/2018, in a new house property to avail the deduction under section 54 else the same will be treated as long term capital gain for the assessment year 2022-23


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