Ltcg on sale of land

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2013 I HAVE SOLD LAND IN THE CURRENT FINANCIAL YEAR. IT RESULTED IN LTCG. CAN I AVAIL ANY TAX BENEFIT, IF I INVEST THE PORTION OF LTCG IN PURCHASE OF LEASE HOLD PROPERTY. PLS SUGGEST.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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28 December 2013 You can save LTCG by investing in %$EC Bonds

You can also purchase a residential house provided you do not own any other residential house.

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Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2013 Thank you Sir for your reply. But my question is can i invest the amount in leasehold property and save tax?????

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Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2013 Thank you Sir for your reply. But my question is can i invest the amount in leasehold property and save tax?????

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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29 December 2013 In case of leasehold property if it is residential then yes but if it is otherwise then not