Capital Gain tax exemption

[Bharat Vij]

I have a residential house and a commercial property in my name for over 10 years. If I sell my commercial property and keep the capital gain in capital gain accoount for purchasing or construction of new house, am I entitled to claim tax exemption from capital gain?

AI Summary

Capital Gains Tax Exemption: Reinvest in NHAI or REC Bonds (Sec 54EC) or Start-up Funds (Sec 54EE) After Property Sale. An individual inquired about capital gains tax exemption eligibility after selling a commercial property held for over 10 years, intending to reinvest the proceeds in a new house. The response clarified that exemptions are available under Section 54EC, which allows reinvestment in bonds issued by the National Highway Authority of India or the Rural Electrification Corporation Limited, and Section 54EE, which permits reinvestment in specified funds for financing start-ups.