Thursday, August 13, 2009

I sold my house in parts and these were registered on different dates between July 2008 and March 2009. What would be the implications of capital gain

You shall have to compute capital gains for each transaction separately. The total of all these will be your aggregate capital gains. Your tax liability will be calculated on the basis of the aggregate capital gains. However, you shall have to buy a new house within two years from the date of transfer of the existing house. If you want to build a property with the capital gains from the sale of the existing house, you shall have to complete the construction in three years .

0 comments: