Confusion in Save Capital Gain Tax on Housing property

Kuldeep Singh (201 Points)

27 August 2021  

Sir/MAdam,

I have 10 years old Residential plot and now i am planning to sell out in 30 Lakhs and want to buy again residential plot in 35 Lakhs at another location. But i am confused in how to save/exempt Long term capital gain tax(LTCG) in my case.

I know two section through which we can save LTCG but my case is different :

1. Section 54  = Sell out only Residential House/Flat but have to Buy only Residential Residential House/Flat.

2. Section 54F = Sell out Residential House or Plot  but have to Buy only Residential Residential House/Flat.

But in my case, Selling housing property is Residential Plot and Buying housing property is also Residential Plot then which Section will be applicable in this scenerio ? Plz suggest