Implications on Purchase and Sale of Residential Property in same Financial Year
This query is : Resolved
Quick Summary
08 September 2025
If one residential property is Purchased on 29-May-2024 and another residential property sold on 18-Mar-25(both residential property owner is same). i.e. both transactions are in same financial year.
please suggest what will be the income tax implications.
Thanx
please suggest what will be the income tax implications.
Thanx
Dhirajlal Rambhia
(Expert)
08 September 2025
LTCG on sale of second HP can be exempted u/s. 54 IT act, against purchase of first HP.
Dhirajlal Rambhia
(Expert)
20 September 2025
Good Luck..
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