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Long Term Capital Gain

ANIL CHAUHAN

we have sell a residental property and buy a commercial property, please advice Is LTCG applicable and if applicable how can i save

Long Term Capital Gains Tax on Residential Property Sale Can Be Mitigated Using Section 54 of Income Tax Act. A discussion forum participant inquired about the applicability of Long Term Capital Gains (LTCG) tax after selling a residential property and purchasing a commercial one. One respondent, Vivek Harsh, confirmed that LTCG is applicable but can be mitigated by referring to Section 54 of the Income Tax Act. Another respondent, CA Gopalji Agrawal, advised participants to update their profiles to ensure responses are tailored to their technical knowledge. (AI Summary)
Income Tax
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