I had a query regarding LTCG(Long term capital gain)
I had purchased a flat in Mumbai for Rs. 277000/- in year 1992 got the possesion from the builder in 1997.
I sold the same flat for Rs. 2500000/- on 22/3/2012. I am going to invest the amount in the new Residential house but it will still take 3-4 months to final the new house.
It would be very helpful is you could please let me know how much amount i should invest in Capital gain account and also by what date?
It would be great if you could share the calculations.