Ltcg

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2013 my client sold a property and get LTCG. he wants to invest this Longterm capital gain in more than one residentail house. can he do such ? pl explain . while a judgement is given for reinvest in more than one falts but he wants to invest in seprate - seprate house. my client look a property jo ki pass pass m bani hue h lekin do no house k owner alag alag h . kya aisi do no house purchase kr skte h

Manish Bhandari

Manish Bhandari (Expert)
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18 December 2013 Are the seperate - seperate house a part of Unity of structure. i.e one building, or common floor, adjacent.
If not then LTCG will be only for one residential unit.
If yes then you can avail LTCG for more than one unit.

Querist : Anonymous

Querist : Anonymous (Querist)

19 December 2013 i get long term capital gain and I want to reinvest in residential property.I look two plot adjoining (pass pass me) and i want to build up a house on these plots.but owner of these plots are seperate seperate can i get exemption from long term capital gain as such investment. pl advice me

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