Can I claim exemption under any other section if the I invest the capital gains from sale of property in any other asset?

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• Can exemption can be claimed u/s 54 and 54F when capital gains from transfer of multiple properties are invested in a single residential property?

  If other conditions as regards time limit etc. are fulfilled, exemption under section 54 is allowable where capital gains arising from sale of two residential houses are invested in a single residential house.

• Is there any relief provided for capital gains arising from sale of any long-term asset which is not a residential property?

  Yes,  u/s 54F, any gain arising from sale of long-term asset can be tax exempted if the entire sales proceeds are invested in ·       Purchase of one residential property within one year before or two years after the date of transfer of the asset, or ...

• What is the time limit for investing the capital gains on sold residential property in a new property?

  For claiming exemption u/s54, the capital gains arising from sale of old property must be invested in: Purchase of another residential property within one year before or two years after the transfer of the old property. Construction on a residential ...

• How can I claim relief in case of selling a residential property to buy another residential property?

  Under section 54, any long-term capital gain arising to an individual or an HUF on sale of a residential property shall be exempt if the capital gains are invested in another residential property. The property sold can be self-occupied or rented.

• What is Capital Gains Account Scheme?

  If you have a profit from sale of a residential house and you have not invested these profits in another asset before due date of filing return, then such an amount of capital gains needs to be deposited in the Capital Gains Account Scheme before due ...