Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2017 Mukesh purchased a plot in 2011 at 7.5 lakhs and sold it at 21 lakhs in 2016. But after that he purchased a plot at 7.50 lakhs by his own name and he is going to start construction on his another plot purchased many years ago. So my question is that does he has liability? Is there any solution?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 Not getting what you exactly want to sask......

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 Sorry its what you exactly want to ask in this query

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Amol S Joglekar

Amol S Joglekar (Expert)
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01 October 2017 the new plot you purchased does not qualify for any exemption unless construction is done on the same.
However you can claim the exemption of the construction made on the so called "another plot" subject to the limit of 3 years

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