Hello sir
I want to know that ,long term capital gain can be invest in buy new residential property or under construction property, or how to save tax on that profit?
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Stock narket profit reinvest in bew resi property
Replies (2)
you can claim exemption in section 54f of income tax, where long term capital gains are utilised for purchasing Property. however maximum exemption is 10 cr, Also new property must be aquired 1 year before, 2 year after the sale of asset or new construction must be completed within 3 years.
Lockin period on property puchased is 3 yrs.
Bit there is some condition to claim exemption in section 54F correct? Can i specify it ?
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