Capital gains tax on sale of flat


i am having a small flat in mumbai which i have purchased ten years ago, now i want to purchase a bigger flat,but as it is difficult to find buyer for the old flat i wish to buy the new flat from my own funds and ther after sell the old flat within one or two years time . i wish to know if i will have to pay capital gain tax on amount recieved from sale of old flat
 
Reply   
 
CEO

Facts ARE NOT  SUFFICNET .GIVE FULL FACTS. yOU NEED DETAILS OF COST OF OLD FLAT ETC.

 
Reply   
 



Please contact a good Tax Consultant or Chartered Accountant as these tax issues are quite tricky and may land you in trouble at a later date at which time you shall have no option but to pay a hefty sum as tax.

 
Reply   
 

There will be no problem. 

 
Reply   
 

sure it will chargeable u/s45,but due to buying new flat you are investing to the extent of old flat saleble value you can claim exemption U/s54,
 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

Search Forum:








×

  LAWyersclubindia Menu