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.
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