Tax and investment on capital gains

apro (TaxPayer) (50 Points)

16 December 2022  

Hi Sir,

My queries regarding income tax on capital gains are as below

  • If I make profit (short term or long term) of ₹ 2,00,000 profit after sale of shares can I buy 4 wheeler to claim tax returns ?
  • if I make profit of ₹1,00,000 on sale of house can I invest the profit in buying shares of any company in the same financial year ?