My siblings and I sold our ancestral property recently. Assuming my share was X, I recently bought a flat and the cost is about 65% more than X.
What would be my tax implication?
Thanks
My siblings and I sold our ancestral property recently. Assuming my share was X, I recently bought a flat and the cost is about 65% more than X.
What would be my tax implication?
Thanks
If ancestral property was house property & if you have purchased new property within specified time period; and if your capital gains arrived from the sold property be equal to or less then X, then no tax liability.
Thank you Sir for your valuable information
You are welcome.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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