06 April 2015
I sold a property for Rs. 60.00 lakh on 28.03.2015 which was purchased during 2006-07 for 3.15 lakh. I am alredy having a residential house a part of which is rented. Can I invest the gain for buying another property and save the capital gain tax? Please guide.
06 April 2015
Yes you can but till the time you don't purchase house you have to deposit the money in capital gain account with the bank. You may refer section 54 of income tax act or call me on 9015980399 for further details.
CAclubindia
