03 August 2016
if current residential property is sold in Feb-15 for Rs. 13 Lacs & New Residential property is purchase in Apr-15 For Rs. 30 Lacs. Pls inform if any capital gain is applicable.
03 December 2016
Dear Mr Siddhartha ji, you sold your old residential house for Rs 13 lakhs and purchased another residential house for Rs 30 lakhs within permitted time duration of 2 years thats mean that you invested entire amount of sale proceeds of old house in purchase of new house property, so their will not be any liability of capital gain tax in your case. So sit back n relax yourself.
CAclubindia
