The union budget 2012 provide for "Exemption from Capital Gains tax on sale of residential property, if sale consideration
Sriram (Director) (24 Points)
20 March 2012The union budget 2012 provide for "Exemption from Capital Gains tax on sale of residential property, if sale consideration
Sonam Bidasaria
(CA)
(770 Points)
Replied 21 March 2012
Yes.......any person defined in Income Tax Act, can claim exepmtion under this provision , provided that investment in manufacturing SME is used in purchase of new plant and machinery.
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