Long Term Capital Gains Tax
Page no : 2
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 20 September 2019
No you can't. you need to invest in residential property only to claim exemption
suraj aneja
(18 Points)
Replied 20 September 2019
So what is the definition of residential property in Income Tax ?
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 20 September 2019
The definition is in the name itself, residential property, which is used for our daily living, also in each section,it is clearly stated as invest in residential property to claim exemption. income tax act does not defines any residential property
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