If Long term gain from Stocks/House sale is reinvested as new house/land/stocks then entire gain wont be taxable ? Please guide
if it is bought at 2020 and LT gain received in 2021 then can I use last year property/stocks that purchased to mitigate gain of next year 2021
or
if it is bought at 2022 and LT gain received in 2021 then can I use 2022 year property/stocks that purchased to mitigate gain of year 2021
Exemption is available for purchase of new house.
Time limit to buy the house is 1 year backward or 2 years forward from date of sale of existing asset.
For more, read about section 54 and 54f of income tax act.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
