Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

I have a flat which I want to sell and buy a new flat which will be bigger in area. What are my tax implications especially with regard to capital gains?

April 26, 2017area Bigger buy capital gains especially flat implications sell tax

0

Posted

I have a flat which I want to sell and buy a new flat which will be bigger in area. What are my tax implications especially with regard to capital gains?

1 Answer

0

Posted

Ans. On the proposed sale of your flat you may purchase another flat within two years of the date of sale of the original flat. If you have invested the entire amount of capital gain irrespective of your area of the flat, you would not have to pay any capital gains tax.