mukesh (Chief Accountant) 08 April 2015
Sir(s),
I sold a property on 28.03.2015 for Rs. 60.00 lakh which was purchsed during 2006-07 for Rs. 3.15 lakh. At present I am having a residential house, for my own use and a portion of that has been rented out.
My question is can I buy another house / farm house out of the funds received from the sale of the said property and save capital gain tax. If no, what shall I do to save on capital gain tax.
Please guide.
Thanks.
Mukesh
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 20 April 2015
If you purchase new flat or house within one or two years from the date of sale only you are eligible from long term gain tax.
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