Capital gain on transfer of house property and invested in u

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 February 2014 Hello Sir,
I have jointly Constructed House in April 2008 with by co-brother with a cost of 25,00,000each but now on march,2014 i am selling my portion of residential house to My Brother for a value of 65,00,000. and buying the urban land for the 70lacs.

In this will i get any exemption?
Also when payment is exceeding 50,00,000 will i have to Deducted TDS?RAte?

Please help me with this issue...

Regards,
Subramanya

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 February 2014 well you can claim exemption provided that you construct a residential house on that property within next three years.

yes you need to deduct TDS @ 1%.

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