I purchased flat in 2001 and sold in 15 may 2010. I want clear information regarding Long Term Capital gain how to adjust ,Till movement I am not purchase any house. What is the condition for adjust the LTCP. If I purchase any house and paid advance before 15 may and registration done end of the May is it my LTCG will adjusted.As i know that I required to invest in flat withing one year of old flat sale dated or book flat get constructed withing 2 yrs. Please kindly let me know the rule properly for tax saving.
2 Replies
VISHNUPANT JOSHI
(ARTICLE)
(21 Points)
Replied 21 April 2011
refer sec 54 for more details...............its clearly explained in the act itself.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 22 April 2011
now deposit the whole amoiunt in capital gain deposit scheme and then decide what to do, u will have enough time to decide and do.
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