I have sold my plot for 80lakh.
I have purchased another plot for 2Cr with my savings and retirement benefits.
I have been told that I can use 80Lakh for purchase of another plt. it can only be used to purchase a house.
I want to construct house on newly purchased plot with 80Lakh.
What type of info I need to submit to get capital gain tax. It s need to provide complete bills with GST for construction purpose or a final Bill from the builder is sufficient.
1 Answers
Hi,
You can use the Proceeds to buy a plot and then construct a house on it within 3 years of the transfer of the first property.
Advisable to keep complete set of bills related to construction for future reference purposes.
Kindly read :
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