Property sold and buy, tax applicable or not

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sanjeev (Querist)
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10 November 2014 If property sold and purchased new one with in two month, property purchased lesser amount, balance amount can used other work like renovation of house, loan paid. In this condition i am save tax or not.

Amol S Joglekar

Amol S Joglekar (Expert)
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10 November 2014 yes you can save the tax, provided you compky with the other conditions of capital gain.

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Rupesh Jain

Rupesh Jain (Expert)
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10 November 2014 no, if you buy and sell with in two month and assets are not old then you can not save the tax . if possible if residential property and more than 36 months old .

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