Capital gain - Sold house

01 November 2017

If I sold house and purchase shop,
can I get tax benefits?
plz guide

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10 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (172415 Points)
Replied 01 November 2017

prashant desai (190 Points)
Replied 01 November 2017

or purchase land then?

prashant desai (190 Points)
Replied 01 November 2017

or purchase land then?

CA Rashmi Gandhi (Chartered Accountant) (86313 Points)
Replied 01 November 2017

Exemption allowed only when you purchase residential house property or bonds....

rama krishnan (12234 Points)
Replied 01 November 2017

you can claim deduction for land purchase subject to completing the construction of residential property within 3 years from the date of sale

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rama krishnan (12234 Points)
Replied 01 November 2017

you can claim deduction for land purchase subject to completing the construction of residential property within 3 years from the date of sale

rama krishnan (12234 Points)
Replied 01 November 2017

you can claim deduction for land purchase subject to completing the construction of residential property within 3 years from the date of sale

Pallav Bansal (CA Final) (372 Points)
Replied 01 November 2017

Section 54 series not applicable on purchase of commercial property or on purchase of land which is not an agricultural land..

Pallav Bansal (CA Final) (372 Points)
Replied 01 November 2017

Means you can't get any Tax benefits if you purchase a shop or a land which is not an agricultural land..

rama krishnan (12234 Points)
Replied 02 November 2017

construction of residential property includes purchase of land and constructing residential property over the land

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