Upgrad LLM

capital gain investment


I bought a property for 5 lac.  Sold it after 15 yrs for 22 lac. Indexed value of property is 13 lac.  Now do I need to invest only 9 Lacs in property to avoid capital gains tax or the complete sales proceeds i.e. 22 Lac.

 
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Dear Ritesh  you have to invest   only 9 lacs in already built up residential property within 6 months of sale or invest it in specified capital gain  bonds u/s 54EC  before the closing of current financial year in which you have sold the residential property otherwise open a capital gain account in any nationalised bank and purchase a plot   and construct the residential house within 3 years of sale.                                                                                                                                                                             

 
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