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SALE OF OFFICE PROPERTY .

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 February 2011 I have a office property, which is currently rented out.I am showing the rental as office rent in p&l , and in the computation claiming 30% exemption for this under income from house property.

I have also invested in another house property,by taking a home loan, which is under construction , and which I Plan to rent out once I get possession.

Ref the Office property on rent,IF I sale this premise,and buy a godown,with a higher value ( by taking a loan against it ) and put it out on lease, will this sale attract capital gains ?

Please advise.
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CA Jeen paul

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CA Jeen paul (Expert)
07 February 2011 will be taxable
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