CAPITAL GAINS TAX ON SALE OF HOUSE - EXEMPTION
This query is : Resolved
05 January 2024
I HAVE PURCHASED A PROPERTY ( 3 Bhk FLAT) ON 24-03-2020 .
I HAVE NOT REGISTERED THE PROPERTY AND I AM SELLING IT ON 09-10-2023.
WILL THIS BE TREATED AS LONG TERM CAPITAL GAIN AND CAN I CLAIM EXEMPTION FOR LONG TERM CAPITAL GAIN.
I HAVE NOT REGISTERED THE PROPERTY AND I AM SELLING IT ON 09-10-2023.
WILL THIS BE TREATED AS LONG TERM CAPITAL GAIN AND CAN I CLAIM EXEMPTION FOR LONG TERM CAPITAL GAIN.
06 January 2024
Yes, it will be treated as long term capital gains and you can claim exemption for long term capital gains under section 54.
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