Hi Sir or Madam
Good day
there is a sale transaction towards sale of let out property in March 2023
again the amount received is transfered to a construction company to construct an apartment in April 2023
Could some one please advise whether capital gain can be exempted or tax needs to be paid
Thanks in advance
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Capital gains let out property Sale
Replies (4)
Quick Summary
Capital gains let out property sale constitute transfer of capital asset.
Sir
is this exempted or taxable
please advise
is this exempted or taxable
please advise
If construction is completed within 3 years from the date of sale then you may avail the exemption. You may not need to pay tax .
Capital gains let out property on sale.
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