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By Anshul Feb 7, 2023 6:21:48 PM IST (Published)
Capital gains can be termed as the profit generated from the sale of any investment or property. Depending on the holding period of these assets, capital gains are classified into two categories – long-term capital gains and short-term capital gains.
Family members and associates of D’Mart founder Radhakrishna Damani have recently bought as many as 28 housing units worth Rs 1,238 crore in Mumbai. Interestingly, this deal comes at a time when a major provision change mentioned in the Budget 2023 is supposed to go live on April 1. According to this proposal, the government will impose a Rs 10 crore cap on the reinvestment of capital gains from sale of housing property.
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The deal shouldn't be affected though, as currently, there are no such limits or provisions.
However, it makes sense to understand what capital gains on property sales means, and how it can be avoided: