Income tax capital gain

Dear  sir

we  was  purchase  house  property on 26/03/2008    amount  17,25,000

 this property  is  my name  and  brother name   now   we  will  sold   at  65,00,000

but i purchase new  home  my name  last year  mid  of 2016  with  loan amount  35,00,000 lakhs  now   capital  gains    adjust   with  my own name  property  

 

please   clearify

 

thank  you

 

venkatathri 

 

 

Replies (2)
u/s 54 if u transfer residential house then capital gain will be exempt if
1. u purchase one year before transfer or
2. Two year after transfer
capital gain so arise will be divided b/w u nd your. broth. share

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