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.
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LONG TERM CAPITAL GAIN REINVETMENT
Replies (2)
refer sec 54 for more details...............its clearly explained in the act itself.
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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