Capital gains -section 54f
kulwant singh
(Querist) 09 April 2019
This query is : Resolved
Dear Sirs,
I Kulwant Singh have recently sold a shop for 70Lakh which has resulted in long term capital gain of 30 Lakhs. I would request you to guide me on the fact that if I can save capital gains investing in another shop or it can only be saved by investing in residential property. For your information I already own one residential flat in my name. Can the capital gains can still be saved by investing in residential property.
I would appreciate your help to resolve my issue.
Thanking you in advance
Thanks & Brgds
Kulwant Singh
Sb Karma
(Expert) 30 December 2019
Yes can invest in new residential even if already have residential property...
but keep in mind within 1 year of sale,and now even can buy 2 but within that amount only
