hello all,
My Friend Sold his house property to do business, so he had to pay capital gain tax.
So how he avoid that Capital Gain Tax, i think in income tax some provision for Purchase of Machinery regarding this.
so please help me for this.
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PURCHASE OF MACHINERY OR INVEST IN BUSINESS ACTIVITY AGAINST SALE OF HOUSE PROPERY
Replies (2)
Quick Summary
No, puchase of Machinery not eligible for avoid capital gain tax
One Option to Save Capital Gain is to Invest Your Long Term Capital gain in Purchase of Another Residential House within 2 Years From the Date of Purchase
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