Long Term capital gains zzzz

Rajat Sharma (496 Points)

07 October 2022  
Sir with due respect I want to know that I am the owner of commercial building and land which was purchased in the financial year 2018-2019 for Rs 2400000/- now I want to sell the said land and building in the financial year 2022-23 for Rs 3400000/- .Sir on this land and building I have spend a sum of Rs 700000/- Lac on account of renovation to the said building.Sir the said recd.amount will be used in business purposes.Sir I want to know that can I am use this amount for business purposes.Thanks