20 July 2012
sir we will sold the one house in the rupee of 10000000 and than after we will purchase a one residencial house of rs 2500000 and four shop of rs 1000000 each and remaining amt will be invested in a gold .so now i would like to know that what tax remedy as well and tax liability please ans as early as possible.
20 July 2012
If you are selling Residential House, then in order to get exemption u/s 54 you have to invest the amount of Capital Gains in residential property.
If you capital gains are upto Rs. 25 Lacs, then your future investment planning is fine.
CAclubindia
