Long Term Capital Gains on Property Two Exemptions

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Hi can i invest my Long Term Capital Gains in New Residential Property as well as in Capital Gain Bonds upto 50 Lakh and take Exemption in both the sections and lower my tax liability.

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Yes, you can invest your Long Term Capital Gains (LTCG) in both new residential property and Capital Gains Bonds, and claim exemptions under both sections, provided you meet the conditions specified in the Income Tax Act. Section 54: Exemption on LTCG invested in new residential property: - Invest in a new residential property within 2 years from the date of sale of the original asset. - The new property should be held for at least 3 years. Section 54EC: Exemption on LTCG invested in Capital Gains Bonds: - Invest in Capital Gains Bonds issued by NHAI or REC within 6 months from the date of sale of the original asset. - The bonds should be held for at least 5 years. However, please note that: - You can claim exemption under both sections, but the total exemption amount cannot exceed the LTCG amount. - The exemption amount under Section 54EC is limited to Rs. 50 lakhs. Consult a tax expert or chartered accountant to ensure you meet all the conditions and comply with the relevant provisions. They can help you optimize your tax liability and ensure compliance with the tax laws.

Thank you sir for the confirmation also are the exemptions allowed in without indexation method also ?

also am i still allowed to invest in two residential properties if the sale proceeds are from sale of shop

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