Capital gains on commercial land investment
Murali Rotti Sathyanarayana (Manager of Accounts) (157 Points)
10 January 2022Murali Rotti Sathyanarayana (Manager of Accounts) (157 Points)
10 January 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169514 Points)
Replied 10 January 2022
Yes, provided the local authority sanction plan of residential unit over the land.
Also provided you construct the residential house within stipulated time period.
Murali Rotti Sathyanarayana
(Manager of Accounts)
(157 Points)
Replied 10 January 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169514 Points)
Replied 10 January 2022
The condition stipulated is for residential house.
If the land is larger in area, only the cost of land over which house is constructed would be considered for exemption.
Any other units constructed over rest part would be out of consideration.
sabyasachi mukherjee
(27169 Points)
Replied 16 January 2022