Queries related to LTCG

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23 Points Posted on 31 August 2020

1. If someone sells a property than in how many properties a person can invest to save LTCG

2. If that person doesn’t have supporting documents for COI than how can we calculate the COI while calculating capital gain.

3. Is there a clause which says a person can’t buy more than 2 properties on his/her name.

4. What if a person sells a property and transfer the amount to her son/ daughter’s account and they buy a property and gets rental income than will that income be clubbed in the source’s income?

5. If a person invest in 2 properties, can the remaining amount be invested in NHAI bonds ?

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On 31 August 2020 at 23:21 Report
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Quick Summary
This discussion addresses common queries regarding Long Term Capital Gains (LTCG) tax when selling property. It clarifies the number of properties one can invest in to save LTCG, how to determine the Cost of Acquisition (COI) if documents are missing, and confirms there's no restriction on the number of properties an individual can own. The thread also touches upon transferring sale proceeds to children and potential income clubbing, as well as investing remaining funds in NHAI bonds after property purchase.

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12244 Points Posted on 01 September 2020
1. one property
2. you can obtain the coi value from concerned SRO
3. yes... in respective sections such as 54, 54f
4. yes
5. investment can be made in 1 property only. remaining amount can be invested in nhai bonds
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On 01 September 2020 at 02:25
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62 Points Posted on 01 September 2020
An individual can invest invest upto 2 properties within India from the ltcg arising upto 2 cr once in a life time. If ltcg more than than 2cr investment limit is 1 property. YOU CAN AVIL COI FROM YOUR REGISTRAR OFFICE. you can easily transfer money to you daughter without any tax implication and also there is no clubbing of rental income
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On 01 September 2020 at 07:09
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12244 Points Posted on 01 September 2020
Thanks Mr Sachin for correction
however 2 property limit is applicable if the property sold was residential property
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On 01 September 2020 at 09:27
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BUSINESS DEVELOPMENT MANAGER
1697 Points Posted on 03 September 2020

1. if ltcg more than 2cr then a person can invest only on 1 property

5. Yes can invest in NHAI bonds

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On 03 September 2020 at 12:21

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