Capital gain on commercial office sale

As you are selling a commercial property, income tax can be saved under section 54F and 54EC.

Under 54F, you will have to invest in a residential property. Under 54EC, you will have to invest into capital gains bonds.

If you buy commercial land/property, no income tax exemption will be available and you will have to pay income tax on long term capital gains.

under central sales tax assessment proceedings , there are too many requirements as per you sale, purchase and transtions, so far your quiery is concerned it is clear cut answer it that you have to submit c/f/e1/h forms if any ..............(being you have already made sales on account of concessional rate of tax) if not then there is need of sale summary to compile you Returns as you have already submitted before the department, secondly if you have already made sales out of india durring the assessment year then you should statisfy the assessing authority by filing bill of lading,proof of payment recieved in dollers , custom authorites clearance of the goods etc on other you should statisfy to the assessing authority by filing your audited balance sheet if any and trading account and also to show the sale and purchase of capital goods, GR for proof of out side state sales, and in state of delhi you should file DVat 30/31 , 2a and 2b  sales summary and you will get your assessment done

s.k.sharma advocate mno 9891297097

306, aggarwal tower cu block pitampura delhi

Thank you Ramachary garu for your answer. Is it true that I can invest that LTCG amount in a house, if I already own one house...?

Yes a person can have maximum two residential houses so as to claim exemption us 54F .. Since you are having already one residential house  still you can invest  net sale proceeds of commercial units in new  new residential house  and you will get exemption benefit us 54F of  I T Act 1961. please not that you have to retain new asset for minimum 3 years or else it will be taxed in the year of sale      [if sold within 3 years ]  as long term capital gain

Thanks