You would be allowed a deduction on the investments up to the amount of long term Capital gain on House property if you have a long term capital gain as computed above and have made investments in either of the following:
a)Purchase of a new house property or
b)Invested the sale proceeds in Capital Account scheme 1988 or
c)Invested in NABARD bonds or
d)Invested in NHAI bonds or
e)Invested in SIDBI bonds
2. Securities and others
You would be allowed a deduction on the investments, restricted to the amount of long term Capital gains if you have a long term Capital gain as computed above and have made investments in either of the following:
a) Purchase of a new house property – deduction restricted to (cost of new house X Long term capital gains on securities / Net consideration ) OR
b) Investment of the sale proceeds in Capital Account scheme 1988 or
c) Invested the sale proceeds in NABARD bonds or
d) Invested the sale proceeds in NHAI bonds or
e)Invested the sales proceeds in SIDBI bonds
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