27 July 2024
If I sell property for 1 cr and I have purchased property for 50 lac only. Can i invest balance 50 lac in capital gain scheme. and also claim a deduction on whole. Kindly advice.
27 July 2024
If you have any plan to invest the balance amount in the property, then only you park the excess fund in Capital Gain scheme account. Otherwise no use. It will be taxable on withdrawal. Rather you can invest 50 lakhs in Sec. 54EC bonds to get the exemption.