long term capital gain on commercial property

Dear Sir, i would like to know about long term capital gain currently i am selling a commercial premise which i own for 6 years and want to buy another commercial premise for setting a factory .i have 2 options buying commercial land and building a shed buying an industrail gala i do not want to pay the capital gain .please advice me on options

regards

manjulla

asked Jul 08 '11 at 10:57 by manjulla 1111


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.

answered Jul 08 '11 at 17:39 by pankaj 5.2k320

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Asked: Jul 08 '11 at 10:57

Seen: 2,566 times

Last updated: Jul 08 '11 at 17:39