Implications on Purchase and Sale of Residential Property in same Financial Year
This query is : Resolved
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
08 September 2025
LTCG on sale of second HP can be exempted u/s. 54 IT act, against purchase of first HP.
20 September 2025
Good Luck..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- Multiple trade mark
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Transporter Declaration form
- Value of property in capital gain
- Copyright software
- LC charges in relation to Asset purchased should be Capitalised ?
- Regarding TDS Applicability For Director Remuneration
- TDS APPLICABILITY....../
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
