No there is no split amount specified. The only requirement is to reinvest the entire capital gain in the construction of residential house property to avail the whole exemption.
Capital gain reinvestment into plot and then house construction
Is there a split between amount to be spent on plot purchase and house construction for the capital gain amount from house sale. Are there any rules about how big the house construction to be compared to plot size.
Asked 6 years ago in Capital Gains Tax
Hi
No, there are no there in this regard.
Hi,
There are no specific rules regarding this.
Regards,
Nikhil.
No, there is no such rule.
Please feel free to call/ revert in in case you need more clarity.
Thanks and regards
Abhishek Dugar
CA CS B.Com
No such rule in Income tax.
Quantum of exemption that can be claimed is amount of capital gain or amount invested whichever is lower.
Hello,
No such laws, just make sure that the construction to be completed within 3 years from the date of sale of your earlier property.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, FCA, LLB, CERT. FAFP
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