Long term capital gain

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  1. jayanthm

    jayanthm New Member

    i have made long term capital gaim by sale of house,cap gain amt is 17 laks.
    i purchsed a site for 10 laks and inted to construct house wihin a year.
    how much i invest in capital gains deposit a/c
     
  2. sai tejesh(ca.final)

    sai tejesh(ca.final) Active Member

    In order to get full exemption of your capital gains..
    You have to invest in another residential house property, the sum equal to capital gains which has been arised.

    So deposit total 7L in capital gainsA/C,to get full exemption.
     
    Last edited: May 25, 2015
  3. Manoj Mehra

    Manoj Mehra Active Member

    If you construct a house property on this - it would be considered as a Residential House.

    Therefore, in my opinion - you are only required to invest Rs. 7 Lakhs in Capital Gains Account.
     
  4. Sumit Agarwal

    Sumit Agarwal Active Member

    Invest Rs.7 lacs in capital gains account. But make sure the house property should be constructed within 3 years from the date of transfer of old property.
     
    s selvam and Manoj Mehra like this.
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