Dear Team,
Greetings of the day.
Had some query/ needed some clarificatin regarding Short term Capital Gains/Large Term Capital Gains.
We sold a house purchased 10-15 years ago & within a year invested the sale proceeds for buying a new residential house.
So, now If I sell the new home purchased within next 2 years, will the transaction attract STCG or LTCG?
For example:-
If I bought a residential house property for *10 lakhs* in January 2010 & sold it for INR *12 lakhs* in June 2021 for buying a new residential house property for INR *15 lakhs* & the newly purchased RHP If we sell in July 2023 (i.e., after 2 years) for INR *16lakhs* for the purpose of buying a new house , so will this sale of my newly bought house attract any STCG/LTCG? If I re-invest the sale proceeds for buying a new house.
CAclubindia
