SALE OF HOUSE PROPERTY & CAPITAL GAINS
This query is : Resolved
Sukrit Saha
(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
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
CA R SEETHARAMAN
(Expert)
26 March 2022
Yes, you can avoid capital gains in such a case.
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