shaikh sajeed (Associate) 21 January 2020
what should be done from the amount received from the sale of property (land/building) less than 24 months?
For how much period should it be in the bank account before making any kind of investments?
Should the amount be taxed as normal or capital gains tax?
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CA Arun Tiwari (Partner) 23 January 2020
So if you have proceeded from the Short term capital gain (sale within 24 months from the date of purchase) then you can invest the same sale consideration amount in the required capital asset as required in the relevant section.