Can gains be reinvested in a commercial property?- Property Hotline
August 25, 2016
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3:30Now PlayingCan gains be reinvested in a commercial property?- Property Hotline
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as posted by the channelExpert: Suresh Surana, Founder of RSM Astute Consulting.
Question: If I sell an open plot, should the full sale amount be reinvested in another property? Can the gains be reinvested in a commercial property? Is it possible to sell a residential property and not claim long-term gains and in turn reinvest the whole amount in a commercial property?
Answer: On sale of an open plot, entire sale amount needs to be reinvested in another property u/s 54F. Sale consideration required to be invested in a residential house property and not commercial property. On sale of residential property, necessary to invest capital gains in another residential house property and not commercial property for exemption u/s 54.
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