Tax on Balance Funds after Reinvestment of Capital Gains

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  1. Vatsala Manohar

    Vatsala Manohar New Member

    My query is if I sell my house which is more than 10 year old, and invest part of the amount in buying a new flat, how to reinvest the remaining part of sales proceeds, to avoid capital gains tax?
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    To save tax on the remaining balance of Capital Gains - you can invest the remaining balance in Bonds specified under Section 54EC - http://www.charteredclub.com/section-54/

    Earlier it was allowed to reinvest the remaining balance in another property as well but it is not allowed now after the Budget 2014 specifically disallowed the same.
     
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