Capital Gain to be reinvested in How much time?

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  1. kathir

    kathir New Member

    I got cap. gain of Rs 1.83 lacs by selling shares, of which, Rs.1.00 lac used for buying new flat self occupied.Bal Rs83000/- is still in Cap Gain SB account Cap gain occurred in june 2011.Now I want to Transfer a part of the amt to the Housing Loan account of flat and balance to be invested in buying a residential plot now.can I still get the exemption?
  2. Parul_Gupta

    Parul_Gupta Active Member

    Capital Gains are exempted from the levy of tax if a residential propery is purchased within 2 years or constructed within 3 years.

    In your case, both the dates hv passed and therefore the amt deposited in Capital Gains Account Scheme will get taxable.
  3. If the shares held for more than 12 months and sold in the recognised stock exchange market, the gain from such transaction is considered as long-term capital gain.

    Long-term capital gain arising from the sale of shares is exempted from tax.
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