Capital gains applicabality

" THE APPLICABALITY OF LONG TERM CAPITAL GAINS IS REDUCED TO TWO YEARS ON PROPERTY "  Yes, proposed in the finance bill for holding to be reduced to 2 years for calculation of LTCG.

THANKS

SIR PLEASE TELL ALSO WHAT IS THAT RULE WE HAVE TO BUY ANOTHER PROPERTY WITHIN THREE YERAS TO NOT COMES UNDER CAPITAL GAIN INCOME  

IS THIS APPLICABLE ON SELF OCCUPIED PROPERTY ONLY OR THIS APPLICABLE ON EACH PROPERTY  WE HELD

LIKE IF A PERSON HAS TWO HOUSE IN ONE HE LIVED AND OTHER IS VACANT IF HE SOLD THIS VACANT HOUSE AND BOUGHT ANOTHER HOUSE WITHIN PRESCRIBED TIME IS CAPITAL GAINS APPLICABLE ON HIM 

AND IF IT IS APPLICABLE THAN IF HE SOLD IT FOR 20 LAKHS THAN IS IT NECESSARY TO INVEST ALL 20 LAKHS ON  BUYING HOUSE. AND IF HE BOUGHT NEW HOUSE OF 16 LAKHS THEN REMAINING LONG TERM CAPITAL GAINS APPLICABLE ON BALANCE 4 LAKHS

1. "PLEASE TELL ALSO WHAT IS THAT RULE WE HAVE TO BUY ANOTHER PROPERTY WITHIN THREE YERAS TO NOT COMES UNDER CAPITAL GAIN INCOME?  Yes, there are various option available for exemption of long term capital gains, like sec. 54/54F by  one house property within 2 years or construct within 3 years.

2. " IS THIS APPLICABLE ON SELF OCCUPIED PROPERTY ONLY OR THIS APPLICABLE ON EACH PROPERTY  WE HELD"

On any property whether self occupied or rented; but sold.

3. "LIKE IF A PERSON HAS TWO HOUSE IN ONE HE LIVED AND OTHER IS VACANT IF HE SOLD THIS VACANT HOUSE AND BOUGHT ANOTHER HOUSE WITHIN PRESCRIBED TIME IS CAPITAL GAINS APPLICABLE ON HIM "

No, because exemption claimed.

4. "IF IT IS APPLICABLE THAN IF HE SOLD IT FOR 20 LAKHS THAN IS IT NECESSARY TO INVEST ALL 20 LAKHS ON  BUYING HOUSE. AND IF HE BOUGHT NEW HOUSE OF 16 LAKHS THEN REMAINING LONG TERM CAPITAL GAINS APPLICABLE ON BALANCE 4 LAKHS"

If house property sold for 20 lakhs, and after deducting indexed cost of the house say, 12 lakhs, remaining 8 lakhs (Long Term Capital Gain) are only required to invest in new house property (u/s. 54), for NIL tax liability.