Capital gain used for buying land and then construction

HI,

Yes you may utilize the amount this way and claim the benefit of LTCG.

Thanks

Damini

Hi,

Yes, you can do so.

Please feel free to call/ revert in case you need more clarity.

Thanks and regards

Abhishek Dugar

CA CS B.Com

Yes you can.

Yes, you can do so.

Yes. You can use the amount to buy Land and then Construct. You have to intimate the Assessing Officer that you are buying Land and will start construction later. Law has provided 3 years time to complete the Construction

Hello,

Yes, you can very well do that. Just make sure that the house you construct is entirely constructed and should be in a liveable condition. I mean a toilet, a kitchen, a basic room and a ceiling should be there.

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