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

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• 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.

• Why is there an exemption provided for taxation on Long term Capital Assets tax?

  When a long-term capital asset like a house property or long-term bonds are sold, the gains are usually very large and are taxed at 20%. Thus, the tax liability on this profit also turns out to be a substantial amount as a long-term capital gains ...

• 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 ...

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

  Yes. If within six months the assessee invests, the capital gains in long term specified bonds (REC & NHAI bonds) issued by the government for a minimum of five years, then these capital gains will be exempt from tax u/s 54EC. However, the capital ...

• 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.