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Capital gain on house sold later then another purchase
i have a inherited property which i want to sell and buy a new house. since it is difficult to sell quite soon, so if i purchase a new house now by taking a house loan and repay the loan when old house is sold, will i get any benefit on capital gain on sale of old house later then purchase of new house?
Replies (3)
Exemption u/s 54 is available for purchase of property 1 year prior to sale of property. So, yes, you may claim exemption is the property is sold within 1 year after the purchase of new property.
i totally agree with above answer
Thank you for the clarification :)
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