The sell my property and got profit. I want to invest this profit in Long Term Capital Gain Bonds for 5 years. ( As per IT rules, it should be invested within 6 months from date of sell) Is it necessary to keep this profit in separate account in bank (Long term capital gain account) OR to keep it in normal saving a/c.?

Sir, if my capital gain after indexation for sale of residential property in current financial year is Rs 67 lakh, can I invest Rs 50 lakh in tax saving bonds this year, deposit Rs 17 lakh in capital gains account, and deposit the remaining in tax saver bond from that account in the next financial year? Please advise.

CAN the money gained from sale of shares held for more then 8 years ,be parked in capital gains account scheme under section 54F for 3 years,and used for buying property? Will it attract tax under capital gains and under CGAS account dep[osit ?Ans: As per section 54F, if you want to buy a residential house property from long term capital gain from sale of shares then you must buy the residential house property 1 year before or 2 years from date of such transfer of shares or construct the house property within 3 years from date of transfer of such shares. If amount can not be utilised before filing return then amount should be kept in CGAS. If the amount is not utilised by the above said time period of 3 years, amount will be taxable. Sir In continuation of above answer by you on 13th Feb'23,request to clarify whether the gains from sale of shares to buy a property under 54F,can be a RESALE property or has to be UNDER CONSTRUCTION?

I have in shares/equity mutual funds and now eligible for long term capital gain of Rs. 5 lacs. I want to save this from Income Tax, Can I purchase a property and rid of paying tax on this long term gain.

Hello Tejasbhai, How do I save Long term capital Gains earned out of profit from sale of shares.

Dear Mihir I have sold a residential property in Feb.2023 and have capital gain of about 15.00 lakh. To construct new house, I have already bought residential plot costing 9.00 lakh and sale deed registered in May,2023. The cost of Plot was meet out from the sale proceed of the residential property sold in Feb.23. Kindly advise whether I have to kept Rs.6.00 lakh (i.e.Gain15.00 lakh minus 9.00 lakh cost of Plot) in Capital Gain Account Scheme for the construction of House OR I have to kept whole money of Capital Gain i.e. Rs.15.00 lakh in the CGAS. How much Amount I have to show in the IT Return for AY 2023-2024.