LTCG ON RESIDENTIAL FLATS

This discussion explores the tax implications of Long Term Capital Gains (LTCG) on the sale of residential flats. The core question is whether sale proceeds from three flats, previously self-occupied and now let out, can be reinvested in a new property under joint names to claim tax relief. The advice suggests that each individual's capital gain must be invested separately in their own name to qualify for relief under Section 54.