1. Assessee had sold his old residential house in March 2021 for Rs. 1,37,00,000. LTCG arising from such sale was Rs. 65,00,000. In March 2021, he purchased another residential house for Rs. 2,06,00,000.
2. The new residential house was sold in Aug 2023 for Rs. 3 crores and another house was purchased in September 2023 for Rs. 3.2 crores.
Questions:
a. What will be the amount of taxable capital gains in the hands of assessee for FY 2020-21 and FY 2023-24?
b. Will there be any change in taxable capital gains if the assessee owned more than one residential house during FY 2020-21 & FY 2023-24?
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