Thanking you in advance.
Assuming that after the sale of a property the calculated Ong term capital gain is 100 lacs. (1cr).
1. If 100 lacs is the capital gain, can 50 lacs be invested in NHAI or REC bonds for the current financial year and the balance be deposited into a Capital Gain Account Scheme bank. And the next financial year withdraw the balance amount from Capital Gain Account Scheme and again invest in NHAI or REC bonds.
so basically 50 lacs in current financial year and 50 lacs in the next financial year will be invested in NHAI or REC bonds.
2. If residential property is owned jointly by two individuals(husband & wife) and the capital gain being 100 lacs, can husband and wife invest 50 lacs each in NHAI or REC bonds?
Hello,
Investment in long term capital gain will be for minimum 5 years. So you cannot withdraw the amount before 5 years.
Consult with ca and invest in long term capital gain account.
