Query By - Khursheed | 12/12/2012
There have been conflicting court judgments on whether this new house that is to be purchased to save capital gains tax could be situated outside India. If exemption is sought on Indian long-term capital gains tax based on the fact that the long-term capital gains has been reinvested in property situated abroad, the Indian tax department could disallow this claim. Hence any action in this regard should be taken only after consulting your personal tax attorney/advisor.” the CA certificate is necessary – the CA certificate is necessary even if you have actually paid the taxes.