Long term Capital Gains on Sold property.

Tax queries 150 views 2 replies

If I sold a plot/Site(10Yrs Old) in Dec22 and paid advance to buy new Flat in July 2023, I want to sell one 6 yrs old apartment to buy the same Flat after July 2023,   Total sold amount (Site & Apartment) less that New flat cost.

Shall I get capital gain excepemtion.

Replies (2)
Pls post values easier to comprehend.

cost of Plot sold in Dec22 : 40L, To be sold cost expcetation: 80 L 

Advance given to New flat: 60L

New Flat cost :                 : 1.3Cr


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