Section 54 - ltcg property

Hello,

Could you please guide on the query:

I have sold my residential property and invested in 2 plots in different cities. By this I have used up all my capital gains liability arising out of my sale proceeds. Am I now fully covered to claim CG exemption with my investments in the plots that I have baught? Though I understand that i have to build the house within 3 years to ensure my CG liability are coveredon my both plots bought.

Could you please guide.

This is an urgent request and would request you all to please help with your views wiith case in point if possible.

Many Thanks in advance!

Replies (2)

You have build the house within 3 years from the date of transfer, else you cannot claim CG Exemption.

 

Hi, Thanks for your reply. My question is if I can invest in two plots out of sale of my residential flat with my LTCG laibility? 

I will build the house on the plots baught within 3 years.

 

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