Long term capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 December 2012
I have owned a flat for about 15 years (Property A). Next month I plan to buy a new house (Property B) and six months later, i plan to sell Property A. Given that I am buying Property B before selling Porperty A, can I still claim the long-term capital gains tax rebate?
Thanks
Thanks
CA CS Amit S. Kedia
(Expert)
18 December 2012
The new property should be purchased one year before or two years after the date on which the transfer took place purchased. Accordingly, you can claim exemption from capital gain u/s 54.
18 December 2012
purchase of new house property before one year of sale is eligible for exemption.
Mohit Naithani
(Expert)
18 December 2012
Yes, both properties are separate from each other...
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