long term capital gain on sale of second property

Hi,

I have a client who is an NRI and had invested in two properties apart from his self occupied property. He sold one property last year, the capital gain to which he invested in Special Capital gains savings bank in a Nationalised bank. This year he sold the other one. 1. Can he take the benefit of the Long term capital gain u/s 54 2. invest the gain in the same special savings account opened last year 3. Can he utilise the total capital gain of both the properties for a single property?

thanks in advance! Hemali

asked Jul 02 '13 at 21:30 by hemalishanghvi 11


  1. In case the properties being sold are residential house properties, tax benefit can be taken u/s 54.
  2. He should deposit gains from second property into another capital gain scheme account.
  3. Gains from both sale can be used to buy a single property u/s 54.

answered Jul 04 '13 at 18:15 by Pankaj Batra 5.2k320

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Asked: Jul 02 '13 at 21:30

Seen: 1,272 times

Last updated: Jul 04 '13 at 18:15