Investing the LTCG in new property and in CG bonds.

Q & A Forum › Category: Real Estate › Investing the LTCG in new property and in CG bonds.

ksk123 asked 8 years ago

My indexed cost of acquisition of flat bought in 2005 is 1 crore. I received 3 crore from sale of this flat. So my LTCG is 2 crore. Can I invest Rs 1 crore as part payment for purchase of my daughter's flat and remaining 1 crore in NHAI Capital bonds (50 lakhs) and REC capital gains bonds (50 lakhs), thus making my tax liability zero? Please advise ksk123

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Sreekanth Staff answered 8 years ago

Dear Sir, Yes, you may do so, provided you become co-owner of the property being purchased by your daughter. Related Articles : https://www.relakhs.com/home-loan-claim-ltcg-tax-exemption/ https://www.relakhs.com/how-to-save-capital-gains-tax-on-sale-of-land-house-property/ https://www.relakhs.com/long-term-capital-gain-exemptions-court-orders/