Dear all ,
I have a query under long term capital gain due to sale of non agriculture land .
I have one flat and two non agriculture land on my Name .
Both the land I am holding from last 20 yearsI have sold one land and planning to invest it in property .
My Query is
1) can I avail long term capital gain Tax .
2) do I need to invest in new house only if I have to save long term capital gain .
3) can I invest in already constructed old house and save the tax
4) As per 54F , the property owner can invest in new house if assesse does not own more than residential house property . My Query is whether land also comes under residential house property .
Kindly Let me know for more details
Thanks
Rajesh