When should we reinvest gains in residential property?- Property Hotline
August 25, 2016
35
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4:12Now PlayingWhen should we reinvest gains in residential property?- Property Hotline
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as posted by the channelExpert: Suresh Surana, Founder of RSM Astute Consulting.
Question: When should I reinvest the capital gains from the sale of property in another residential property?
Answer: Section 54 requires purchase of new property within 2 years after or 1 year before the date of transfer or construction within 3 years from the date of sale. Investment not made before due date of filing return, to be deposited in special capital gains account under the scheme. Timelines need to be strictly followed.
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