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PURCHASE OF MACHINERY OR INVEST IN BUSINESS ACTIVITY AGAINST SALE OF HOUSE PROPERY

Tax queries 228 views 2 replies

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.

Replies (2)
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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