Help regarding Capital Gain Tax Exemption on Plot

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  1. Dear Sir,
    1.If I have one residential house and one residential unbuilt plot.If I sell the plot after 3 years of purchase can I save tax by reinvesting this money in purchasing of new residential flat or plot
    2.If First is not possible & I have 3 residential flat. IF I want to save capital gain tax then I have to sell all 3 residential property after 3 years of purchase ,then investing in one residential house is ok.
    3.Third I have one old property and I sell it and as CII calculation the difference of 50 lac is obtained. Can I use this money for my personal purpose without any tax liability on this amount
  2. rudrabose

    rudrabose Active Member

    You can claim Capital Gains Exemption on Sale of Flat if you invest the total amount received in another residential house. Exemption under Section 54F -

    You will have to pay tax on the difference between the Indexed Purchase Price and the Sale price if you dont reinvest and use it for your personal pupose
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