Capital gains tax

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31 Points Posted on 14 July 2021
How many times capital gains tax benefits we can avail. I mean capital gain how many times we can reinvest
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On 14 July 2021 at 08:39 Report
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This discussion clarifies the rules around Capital Gains Tax (CGT) benefits, specifically how many times you can reinvest profits from property sales. While you can reinvest gains, it often requires using the Capital Gains Account Scheme (CGAS) with specific conditions. You can potentially reinvest gains from multiple properties into a single new one, provided you follow the correct procedures and timeframes for depositing funds into the CGAS or purchasing/reconstructing a new asset.

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STUDENT
1631 Points Posted on 14 July 2021
One Time -One Property, Capital Gain Accounting Scheme-With Certain Conditions.

Invest only in the succeeding A Y, When the sale is done.
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On 14 July 2021 at 08:58
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Chartered Accountant
24588 Points Posted on 14 July 2021
It should be in one time basis
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On 14 July 2021 at 09:14
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31 Points Posted on 14 July 2021
Hi, I am have 4 property have earned capital gains on all, so can I revest in one proprty
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On 14 July 2021 at 10:12
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STUDENT
1631 Points Posted on 14 July 2021

Yes, But -But deposit in separate CGAS -Schemes.

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On 14 July 2021 at 15:49
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Profession Business
28246 Points Posted on 15 July 2021
After transfer of capital asset which is termed as sale . The assesse has specific time period within which he can
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On 15 July 2021 at 06:25
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Chartered Accountant
24588 Points Posted on 22 July 2021
Yes you can invest the same in one property after depositing in CGAS
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On 22 July 2021 at 09:22
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Profession Business
28246 Points Posted on 22 July 2021
There are specific time period within which you can utilise the capital gains either in CGAS OR CAN PURCHASE OR RECONSTRUCT.
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On 22 July 2021 at 09:38

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