Tax savings
vijendra (article trainee) (230 Points)
10 May 2016vijendra (article trainee) (230 Points)
10 May 2016If you sell the commercial complex after 3 years of its construction, it will be long term capital gain. You cannot get deduction by building a new commercial complex out of the gains. You will have to invest in bonds u/s 54EC.
If you regularly construct and sell residential/ commercial complexes/units, the AO might see it as business income instead of capital gain.