long term capital gain

sir , I HAVE SOLD A PLOT IN BANGALORE WHERE I GET LONG TERM CAP GAIN OF 100 LAKHS and i being sold in april 11. Simantaneously i have a housein gurgaon purhased in 1997 which and now i have completely demolished and started rebuilding from september .the construction is expected to complete by december 11.

can i save LTCG BY INVESTING THE 100 LAKKHS IN MY GURGAON PROPERTY.THANKS

asked Apr 06 '11 at 23:25 by akataria44 1111


For saving tax on capital gains, you can construct a new house with all sale proceeds (not only the gains) within three years of plot sale.

answered Apr 11 '11 at 00:24 by pankaj 5.2k320

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Asked: Apr 06 '11 at 23:25

Seen: 1,617 times

Last updated: Apr 11 '11 at 00:24