How to claim capital gains exemption on sale of plot of land
As per Section 54 F you can claim capital gains exemption arising on sale a capital asset, other than a residential house, if you invest the sale consideration for purchase of a residential house within specified time
I own a 1 BHK flat in Mumbai where I am staying. I have another 2BHK property in Surat given on rent. In addition to these two residential properties I also own a plot of land, which I am holding since 2002. If I sell this plot of land can I get the benefit of capital gains exemption if I buy third residential house and let it out?