Please advise if I can invest (all or partial) the money received after selling a commercial property into a residential property.
Well, in other workds, I want to know if its allowed to invest (all or partial) the money received after selling a commercial property into a residential property. May be its not allowed, meaning that money from commercial property can be invested only in commercial property.
There is no long term capital gain if money is reinvested in the property.
29 July 2010
yes, you can invest the sale proceeds of commercial property in residential house property. There is no bar. No LTCG,IF CONDITIONS U/S 54F ARE MEET.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
29 July 2010
Thanks for the reply. Could you elaborate on the conditions you are talking about in your post.
I only know that the sum should be invested within 2-3 years (purchased/constructed). Is there any other complicated condition/clause?