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Long term capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 I sold my house in 28 lakhs that i have purchased back in 1990 in 3 lakh after indexation my LTCG is 14 lakh.In the same year i purchased a new house for 40 lakh then what should be my capital gains.Is 26 lakh my loss which i have to carried forward plz help.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 July 2013 No.. that excess investment is not a loss.
.
Exemption can be claimed to the extent of capital gains.
.

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