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Long Term Capital Gains from Residential Property?
I have recently sold my residential property which I held for about 10 years. I am aware that the profit that I have earned from it after indexation has to be reinvested in residential property to avoid the long term capital gains tax. But I do not know if this profit has to be entirely invested in only ONE property or can be invested in TWO properties to avoid payment of the capital gains tax. Can anyone clarify this please ?
1 Answer
- 7 years agoFavorite Answer
You have to invest only on one property. That too in a residential property like Flat or a House. Investing in a commercial property is not eligible for claiming capital gains adjustment.
