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1 You have to invest for three years. Maximum investment permissible is Rs 50 lakhs. 2 You can puchase a house with in two years or construct a house within three years.Pradeep Narain

Dear Friends,

We have witnessed a frenzy of real estate activity in the recent past.

Posted here is a brief on tax calulation on sale of real estate

Let us check if we are laible for taxes and possibly plan by choosing the invetment options.



All the best.

Pradeep Narain

[SIZE=3][FONT=Times New Roman][B]Deposit of Unntilised amount[/B] [/FONT][/SIZE] [SIZE=3][FONT=Times New Roman] The amount to be invested , which is not utilised by the assessee for the purchase of the new asset before the date of furnishing the return of income , shall be deposited in an account in ...

You need to invest capital gains amount only [after considering indexation] after selling residential property and investing in residential property. In case of property sold, other than residential, the entire consideration has to be invested. G007: Yes, Iam a practsing CA. U may contact at [EMAIL ...

Yes, you have got it right.

[COLOR=black][SIZE=3][FONT=Times New Roman]VRG[/FONT][/SIZE][/COLOR] [FONT=Times New Roman][SIZE=3][COLOR=#0000ff]It appears in your case that residential house property [apt ] is sold to construct another residential house property. You can invest Rs 15 lakhs and claim exemption [S.54].[/COLOR ...

Please find enclosed a note on the same

Pradeep Narain