Hi CA Team
I have long term capital gain from shares in Jan 2022 and need following guidance
1. Do I need to open any wealth account to keep this long term capital gain or it can be kept in my Salaried account.
2. If I want to set off this long term capital gain against buying residential property , then what would be maximum time period in which I am supposed to invest the capital gain to take the exemption of long term capital gain was happened in Jan 2022.
3. Additionally when I will be filing the ITR for 2021-2022 financial year, where I need to show this long term capital gain so that tax will not be applicable when o will purchase the property in defined time limit.
1. You can kept in salary account
2. Within 2 year
3. Shiw it in capital gain schedule and exemption u/s 54F
CAclubindia
