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Income Tax on Capital Gains

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(Querist)
30 January 2009 I have recently sold my old house in Kolkata. I already have another house in Gurgaon where I live now. I am building a self-contained flat with kitchen and bathroom on top of the roof of this house. Will this newly constructed flat qualify for reduction in my capital gains tax?

Tapas Majumdar
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Jitender

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Jitender (Expert)
01 February 2009 no.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
08 February 2009 Yes.
Absolutely.
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