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How Save LTCG (Long term Captial Gain) Tax on Sale of residential Property

Tax queries 400 views 1 replies

Sir, 

My Query related to - How to save LTCG tax arrised due to sale of residential flat in Mumbai. 

Q.1) Can I buy commercial Property ie Shop/Industrial premise , after selling Residential flat. Also Save LTCG tax by re-investment in above in FY 2023-24.

Q. 2 ) If unable to re-invest full considered amount ( on sale of res.property) , So need to deposit in Capital gain bank account. ( *** question is : Should I deposit full considered amt. or only capital gain value or amount.) 

Q.3) During sale transaction : Can I deposit sale considerd value in saving a/c ,then transfer into new bank a/c of capital gain bank account. 

Thanks,

Replies (1)
2) capital gain bank account wrong conception.
capital gain account scheme with scheduled banks.
3) you can deposit provided it is within permissible limits.
2) reinvest fully or partially.
commercial property


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