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Hitesh Rughani (Proprietor)     11 April 2012

Capital gain & investment

I am selling my old tenanted commercial property @ 20 lacs and wish to invest in residential flat as co-owner with my NRI son by contributing the said amount. Will the said amount attract capital gain tax ? or any other option to save my tax ?


 2 Replies

Vineet (Director)     18 April 2012

Invest total sale consideration in new house for complete exemption from capital gains.

Sagar Tilak (PROPRIETOR)     17 May 2012

Yes..You are eligible to claim exemption u/s 54F of Income Tax Act.

The year of acquisition of propert would have helped to advice you as to how much amount you should invest in new house as exemption u/s 54F is available on por-rata basis.

Cost of New Asset/ Net Sale Consideration X Capital Gains.

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