I have bought one plot, one house six year back, and now I am willing to sell it and bought a flat which cost me equivalent to selling price of both.
Now can I save long term capital gains tax on this.
3 Replies
megha kothari
(20 Points)
Replied 26 December 2020
Under section 54 exemption is available on long term capital gains where such gains are invested in purchase of residential house but such property should be purchased in india and within 1year before or 2 years after the date of sale.
sudip sharma
(article)
(734 Points)
Replied 26 December 2020
Yes apply the provision of sec 54 and avail tax benefit
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