sir i purchased a flat in 2012 and i sale that flat in 2018
1st query- sir can i purchased a flat of capital gain amount or full amount of flat
2nd query- sir can i use my money in bussiness expemt of capital gain amount...
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sale of property
Replies (1)
You have to invest the capital gain amount received in a new residential flat. The exemption is available u/s 54 even though the capital gain amount is less than the cost if the new flat.
If you invest such capital gain a business, exemption u/s 54 will not be available.
If you invest such capital gain a business, exemption u/s 54 will not be available.
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