Peeyush Aggarwal 13 November 2019
Hi Experts,
I am planning to sell the property, purchased/Registered in the July 2012 in 29Lac + registration charges. If will sale in 52.5 lac.
a) What will the Long term capital gain/what is the taxable amount?
b) Can I Invest this money (52.5L) in commercial property save the LTCG taxes?
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 13 November 2019
Assessees can get an exemption by investing long term capital gains from the sale of house property in up to two house properties against the earlier provision of investment in one house property with same conditions. However, the capital gains on the sale of house property must not exceed Rs 2 crores.
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