Capital gains -section 54f

kulwant singh (Querist) 09 April 2019 This query is : Resolved
Dear Sirs,

I Kulwant Singh have recently sold a shop for 70Lakh which has resulted in long term capital gain of 30 Lakhs. I would request you to guide me on the fact that if I can save capital gains investing in another shop or it can only be saved by investing in residential property. For your information I already own one residential flat in my name. Can the capital gains can still be saved by investing in residential property.

I would appreciate your help to resolve my issue.

Thanking you in advance

Thanks & Brgds
Kulwant Singh

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Sb Karma (Expert) 30 December 2019
Yes can invest in new residential even if already have residential property...
but keep in mind within 1 year of sale,and now even can buy 2 but within that amount only

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