Upgrad LLM

capital gains tax - private companies


I seek advice on the undermentioned issue.
A private limited company owned a flat in which its business activities were held.  As it was a residential flat, there was objection from the Municipality and hence it was sold.  Can the company invest the sale proceeds in Capital Gains Bond or purchase another property and save CG Tax?
Regards
S. Krishnamoorthy
 
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Advocate

No a company cannot invest in CG bonds/ another property to save CG Tax

 
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