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Save capital gain tax
Can we purchase the commercial property from the capital gained by selling residential property to save capital gain tax..??
Replies (3)
Quick Summary
No, to save Capital Gain tax u/s 54 on selling residential property, you have to Purchase residential house property only.
No you can't but as per section 54F of the income tax you can save capital gain tax by saling a commercial property by purchasing a residential property but with in a year before or with in two years after the date of sale
Thank you friends for your advice ..
Assuming that we have invested to save long term capital gain by purchasing residence property ,
after minimum lockin period of 3 years.
if we sell the same property , on that sell , we again generate the capital , will this cycle continues ...??
Assuming that we have invested to save long term capital gain by purchasing residence property ,
after minimum lockin period of 3 years.
if we sell the same property , on that sell , we again generate the capital , will this cycle continues ...??
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