rahul (Analyst) 12 August 2013

House sale proceeds invested in ngo/business

hello all

i wanted to know whether i will be exempt from capital gains tax in below 2 scenarios:

1. if i sell my only home & start / invest / donate in a NGO with the proceeds of the sale?

2. if i sell my only home & stay on rent & start a business with the proceeds of the sale?

thanks in advance!!

Ashwani Joshi (Advocate) 12 August 2013

No you will not be exempt from paying capital gains tax computed as per Income Tax provisions