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Capital Gain Tax on sale of old house

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Pradeep Mehra

24 Points Posted on 12 June 2023

I propose to purchase residencial flat in Noida for which I have paid Rs.630000/- as token money on 06/06/2023.
l also have my own house in Agra in my name where l have been residing with my family which was constructed in the year 2000
Now l also propose to sell my own house in Agra before the registry of newly proposed flat in Noida
Please let me know the capital gain tax on the proceeds received from sell of my house at Agra.
l request you to advise me what should I do to exempt from Capital Gain Tax in future
I am senior citizen and my date of birth is 01/11/1961
Pradeep Kumar Mehra
Mob: 9917474548
e-mail : pradeep.mehra1961 @ gmail.com

Replies (2)

Quick Summary

This discussion addresses Capital Gains Tax on the sale of a house in Agra, with the owner planning to purchase a new flat in Noida. The advice focuses on exemptions available under Section 54, which requires purchasing a new residential property within specific timeframes or investing in Section 54EC options to mitigate the tax liability.

rama krishnan

5751 Points Posted on 12 June 2023

In order to claim deduction on capital gains realized on sale of your agra house, you are required to purchase house property within 1 year before or 2 years after the date of sale of agra house or construct house property within 3 years from date of sale of agra house