Captail gain on sale resi flat
This query is : Resolved
26 December 2013
Sir, i was purchased resi flat on 22/7/2013 rs 2800000/- my own funds & rs 500000/-advance n loan taken from my sister.
now my another flat sold for rs 1500000/- it purchased in 2004 for rs 358000/- and repayment to sister rs 500000/- now capital gain ?
CA PARAS BAFNA
(Expert)
26 December 2013
Capital Gain= 1500000- Indexed cost of the house purchased in 2004.
.
The above Capital gain will be exempt as you have purchased the new flat within one year
before from the date of sale of old flat.
.
.
The above Capital gain will be exempt as you have purchased the new flat within one year
before from the date of sale of old flat.
.
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