Capital gain tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2013
Housing Property (A) purchased in 2009 is sold in 2013 and inflation indexed capital gain is invested in bigger house (B) with additional funds arranged by way of housing loan.
I have another housing property (C)purchased in 2007, which also i have sold now. Can i claim for capital gain benefits from sell of this property (property C) by way of clearing my housing loan taken for bigger house as it is not a directly investment in my already purchased bigger house.
I have another housing property (C)purchased in 2007, which also i have sold now. Can i claim for capital gain benefits from sell of this property (property C) by way of clearing my housing loan taken for bigger house as it is not a directly investment in my already purchased bigger house.
22 November 2013
when did you buy the bigger house? If you are able to sell the second house (bought in 2007) before the end of one year from the date of purchase of bigger house, then you can claim exemption against the bigger house.
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