Need urgent help on understanding capital gain tax.
We have bought two plots in 2006 and from which one of them we sold in Dec2014 and the other one we sold in Feb2016. After indexation the capital gain tax is 21 lakh including both. Meanwhile in May 2015 i have done an agreement for a under construction flat for 40lakh.
Need your help to understand if i can save capital gain tax arising from plots, by clubbing both the gains and buying one under construction flat.
Thanks in advance, will appreciate your kind help.
CAclubindia
