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LTCG- what Quantum to be reinvested.
In case of a residential property sale, whether entire sale proceeds need to be reinvested in a new property or only the caital gain amount arrived has to be reinvested ? please clarify.
Replies (4)
| In case of a residential property sale, only the caital gain amount arrived has to be reinvested. Refer sec 54 of IT act. | ||
As per income tax act you have to re invest only the capital gain part
I endorse both Dhiraj sir and Ashwin sir views
thank you so much for your valuable advice.
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