I Sold Gold and Bought a House Property: How Can I Get Exemption From Capital Gain Tax
Have you sold an asset (other than a house property, like gold or land), and are planning to invest this money into buying a house property? Then you must know that the Income Tax Act, 1961, provides some relief from the capital gain arising from the sale of an asset. Here is how you can save money on long-term capital gains using Section 54F.
Section 54F is a useful tax provision that helps you save money on capital gains tax when you sell any property or asset other than a residential house. This section allows you to get an exemption from paying tax on your profits if you invest that money in purchasing or constructing a new residential house.