Long term capital gains tax

To save tax on long term capital gains from sale of residential house property can i divide the amount partly in buying a new property and partly in buying govt bonds. Can i combine both the provisions? Eg. If total LTCG is 50,00,000 can i buy a house for 40,00,000 and the bal 10,00,000 are invested in bonds, can i do both the things?

asked Feb 17 '12 at 20:01 by Amit Adhikari 111


Income tax laws are silent on simultaneous usage of section 54 and 54EC. So I would advise you to take caution in exercising this option. If you really want to do this, consult an experienced CA/Tax professional experienced in property matters.

answered Feb 20 '12 at 20:01 by pankaj 5.2k320

link

Know someone who can answer? Share a link to this question via email, twitter , or facebook
.

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Tags:

×777
×326
×99
×80
×42
×20

Asked: Feb 17 '12 at 20:01

Seen: 1,067 times

Last updated: Feb 20 '12 at 20:01