21 June 2011
If i sale a residencial house, then to avoid capital gain, is it necessary to invest in any residential house or can i also invest in commercial plot? Also tell me in what time period i have to invest?
21 June 2011
You have to invest in residential house only to calim exemption u/s 54 and the time limit is 1 year before the sale or 2 years after the sale acquistion should be complete.
CAclubindia
