Implications on Purchase and Sale of Residential Property in same Financial Year

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If you purchase a residential property on 29th May 2024 and sell another on 18th March 2025, both within the same financial year, there are specific income tax implications. The long-term capital gains (LTCG) from the sale of the second property can potentially be exempted under Section 54 of the Income Tax Act. This exemption is applicable if you reinvest the sale proceeds into purchasing the first property.

SIDDHARTH MAHESHKUMAR SHAH

SIDDHARTH MAHESHKUMAR SHAH (Querist)
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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