In India, you cannot directly claim tax exemptions under Section 54 for reinvesting the proceeds from the sale of a residential property into a commercial property. Section 54 applies only if you invest in another residential property within the stipulated time. However, you may explore Section 54F. It allows exemptions if the proceeds are invested in constructing or purchasing a residential property, provided certain conditions are met.
To save taxes on capital gains, consider other provisions like investing in specified bonds under Section 54EC.
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Can I buy commercial property by selling residential property?
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Can I save on taxes if I sell my residential property and buy a commercial property with this money?
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2025-01-17T10:55:59+00:00 2025-01-21T11:13:02+00:00Comment
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