Long term capital gain n sale of property

This query is : Resolved

sunil singhani (Querist)
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20 July 2017 Dear Experts,

We have sold a property worth Rs 30,00,000 and are looking for a new property to invest this consideration. But, till we get a new property, can we invest this amount in Liquid funds (Mutual Funds).

Thanks

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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22 July 2017 There is no restriction that you should not invest the sales consideration in Liquid funds.

If you could not finalize a property before the year ends, shift the funds to Capital gains deposit scheme to save capital gains tax