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SALE OF HOUSE PROPERTY & CAPITAL GAINS

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(Querist)
26 March 2022 We have two houses in joint names and both are 19 and 12 years old. one is sold off and capital gains is accrued.
Is it possible to avoid capital gains tax if another house is bought within the stipulated time with the capital gains from the sale of one house?

The new house will also be bought in the same joint names.

Thanks in anticipation of a response.


Sukrit Saha
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 March 2022 Yes, you can avoid capital gains in such a case.
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