Exemptions for Long Term Capital Gains by Sale of second Property


I sold a property (residence built on a plot) in Lucknow on May 2018 and invested Rs. 50 Lakhs of LTCG  in NHAI Tax Saving Bonds (54EC). The balance of LTCG I paid taxes.

I have a flat in Greater Noida which I intend to sell in 2022 0r 2023. I expect a LTCG of about 40 Lacs.

Can I again avail the exemptions under Section 54 i.e. buying another property or investing in54EC Tax saving bonds.

If yes how much is the time limit to avail this benefit from the date of the sale?


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RK Prasad 1 month 1 Answer 36 views 0

Answer ( 1 )

  1. Sir you can avail exepmtion if you sale in 2022-23

    The time limit to invest purchase a residential house either 1 year before the date of sale/transfer or 2 years after the date of sale/transfer in sec 54

    within a period of six months after the date of such transfer invested the whole or any part of capital gains in sec 54 EC.


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