SAVE LTGC ON PROPERTY

Dear Experts,

 

We have 1 property (Floor+Terrace) in registery docs @ New Delhi and 3 owners.

 

Now we are planning to sell the same which will be sold and the share of the same will be devided among 3 owners.

 

I am writing on behalf of 2nd owner and want to know if I purchase a property and invest the balance amount in REC OR NHAI OR RBI BONDS both things of 2nd owner share will i be able to take exemption in LTGC TAX or not?

 

Thanks in Advance.

 

Rahul

Replies (2)
For 2nd owner -
on realisation of LTCG

he will be able to take 54 benefit if he purchases a new house property as per conditions

For balance amount he will be getting 54EC benefit upto 50 lakhs by investing into Capital gain bonds of REC or NHAI but not RBI bonds
(investment to be made within 6 months from sale deed agreement date)
Student read sec 54EC.

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