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Selling of a profpurchasing a new prop. than selling a prop

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 December 2012 a assessee is having 2 properties (shops) he is now purchasing a new property (shop)for Rs. 30 lakhs and after 3 month he is planning to sell his one of the two properties for Rs. 30 lakhs will capital gain arise on sale of this property if yes than what is a section if no than what is the maximum gap time in purchasing a new property.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
05 December 2012 Capital gain shall arise on the sale of the shop. Section 45 is the charging section of Capital gain.
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