Capital gain where reinvested property transaction cancel

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Kashyap (Querist)
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13 March 2014 I sold my 'A' flat in 2012, (which was kept for more than 3 years) and reinvested by purchasing under construction residential property 'B' by entering in to the agreement in 2013, subsequently I sold flat 'B' too in 2013 and reinvested in new residential flat 'C' in 2013.So my question is,
1. Whether I am eligible to take reinvestment benefit for capital gain arising out of sale of property 'A' for capital gain purpose by purchasing property 'C'?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 March 2014 forget any reinvestment benefit.

the sale of Flat B shall be taxed as short term capital gains.

For computation of cost of flat B the capital gains exemption claimed earlier shall be reduced from the cost.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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13 March 2014 Now you can ask your query in online chat. without paying anything or becoming member.
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