Mihir Tanna |1069 Answers |Ask -Follow
Tax Expert - Answered on Sep 07, 2022
1. I sold a piece or part of my residential plot to someone, say A in Financial Year 2021-22. From the gains of such sales, I purchased Capital Gain Bonds - 54EC to lessen my Capital gain tax for FY 21-22. I know that the max amount of purchase of capital gain bonds limits to Rs 50 lakh in a Financial Year.
2. Now I intend to sell the remaining part of my residential plot to someone, say B in this Financial Year 2022-23. Can I purchase once again the Capital Gain Bonds in this year 2022-23 also from the sale amount to minimise my capital gain tax for FY 2022-23?
Kindly clarify at the earliest
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