How to write off capital gain from sale of house
This query is : Resolved
09 June 2017
I have started construction of a house in my village and it will get over by Aug'17 I am planning to take home loan for the construction of this house. I have a house in Delhi which I plan to sell off in near future. My query is: is there any time frame within which I should have sold off the house in Delhi to be eligible to write of the profit from the sale of house in Delhi against the cost of construction in my Village.
CA R SEETHARAMAN
(Expert)
09 June 2017
You should have sold the Delhi house before start of construction to avail capital gain exemption.
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