Applicability of LTCG tax benefit on property second time
This query is : Resolved
15 April 2021
I had sold a flat and bought a new flat and availed LTCG tax benefit in 2013-14.
Now, I have 2 houses rented out and one is under construction. Staying in a rented house.
I want to sell under construction house (may be eligible for LTCG as contractual due date for possession was 2016 but still not completed) and 1 house for buying a new bigger and better house.
Can I avail LTCG tax benefit for second time or will have to pay taxes with indexation benefits.
Now, I have 2 houses rented out and one is under construction. Staying in a rented house.
I want to sell under construction house (may be eligible for LTCG as contractual due date for possession was 2016 but still not completed) and 1 house for buying a new bigger and better house.
Can I avail LTCG tax benefit for second time or will have to pay taxes with indexation benefits.
24 September 2021
You will need to pay LTCG over the half constructed flat for the previous claim also, as the condition u/s. 54 is not fulfilled !!
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