Hi,
I sold my land in June 2022 and incurred some Long Term Capital gains. I purchased a house last month (June 2023). Can I avail LTCG exemption for my land sale by showing my house purchase ?
Thanks
Mani
Manigandan (26 Points)
09 July 2023Hi,
I sold my land in June 2022 and incurred some Long Term Capital gains. I purchased a house last month (June 2023). Can I avail LTCG exemption for my land sale by showing my house purchase ?
Thanks
Mani
CA. Abhilash Krishnan P
(Chartered Accountant)
(529 Points)
Replied 10 July 2023
Manigandan
(26 Points)
Replied 10 July 2023
Hi Sabyasachi Sir,
Can you elaborate on the other criteria you mentioned?
sabyasachi mukherjee
(26181 Points)
Replied 13 July 2023
Manigandan
(26 Points)
Replied 13 July 2023
So I am eligible for LTCG exemption and no need to pay tax since I purchased house one year after the sale of my land plot. Is that correct?
CAclubindia
