long term capital gain

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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

1 Answers

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.

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