You can save long-term capital gains on property; know how

These investments have to be made either within a year before the sale of the property, or within two years of the transaction.

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When the reinvestment time limit is longer than the return filing due date, one can deposit the under-utilised capital gains in the capital gains account.

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Capital gains accounts can be opened in authorised banks and are of two types: savings and term deposits.

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The withdrawal needs to be utilised within 60 days. Otherwise, the unutilised amount will be subject to capital gains tax in the fiscal year in which the deadline ends.

(Disclaimer: The opinions expressed in this column are those of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)

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