Dear Sir/Madam,
I understand that if you reinvest the long term capital gains obtained by selling shares into a house property then you are exempted from Long term capital gain tax. And if I correctly understand you have to do it in 2 years after getting the gains.
I also understand that you can reinvest in only one house property.
What is unclear is..is this exempted if I reinvest in a new one house property, but in past I already have 2 properties on my name, purchased thru income sources from savings out of my salary.
Thanks and regards.
CAclubindia
