Capital gains tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 May 2012
Please help urgently w.r.t. CGT after sale of a property?
I am selling a flat which will attract CGT. now i will be wanting to invest in total 3 residential properties. One for my self and 2 for my father's brothers sons.
1. please advice will i need to pay CGT?
2. how many properties can i buy to save CGT
I am selling a flat which will attract CGT. now i will be wanting to invest in total 3 residential properties. One for my self and 2 for my father's brothers sons.
1. please advice will i need to pay CGT?
2. how many properties can i buy to save CGT
CA CS Amit S. Kedia
(Expert)
29 May 2012
You can buy only one residential house to save the capital gains arising out of the sale of property.
So, accordingly, You will get the deduction od one house from the capital gains.
So, accordingly, You will get the deduction od one house from the capital gains.
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