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Capital gain

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(Querist)
21 May 2011 Can i invest money in booking of flat to avoid tax on LTCG arises out of sale of gold of rupees ten lac. ?


thanks in advance...
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U S Sharma

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U S Sharma (Expert)
21 May 2011 under sec 54 you may get benefit of LTCG investment in housing property, subject to ........... for details refer sec 54 of incometax act.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
21 May 2011 Yes , you can save tax on LTCG by investing the sales proceeds in Residential House.

You can claim exemption U/s 54F.
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