Selling of property after 3 year

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2016 Dear Experts,
If we sell the proprety after 3 year of purchase
then it would be taxable or not......

Plz reply.....

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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04 April 2016 If you Sell Property after 3 Years than it Will Fall under Long Term Capital Gain , Capital Gain to Be arrived From the Indexed cost of Purchase and Sell price , Difference will Be LTCG. The Extent of Gain will be Taxable . i

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2016 Sir... assume there is LTCG of Rs. 100000,
can i purchase other proprety of Rs. 100000
and within how many year..

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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04 April 2016 In order to claim capital gains to only one unit or residential property, use the CG fund purchase new residential house 1 year before or 2 Years after transfer date.
If investment in construction 3 years from the date transfer of original property.
Or investment within 6 months from the transfer in CG bond specified u/s 54EC. In NHAI or REC bonds with 3 years locking period, maximum 50 lakhs with 6% interest. Interest is taxable

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2016 Sir.. while calculating the CG will i have to
consider property value inclusive registry i
mean inclusive trf cost.. or with out trf cost

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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04 April 2016 You can consider purchase cost including registration cost.

Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2016 Sir.. assume if i get proprety in heritage then
while calculating CG what cost flation index
will be consider....

Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2016 Sir.. assume if i get proprety in heritage then
while calculating CG what cost flation index
will be consider....

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