Capital gains

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Anand (Querist)
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08 April 2012 I plan to sell one of my properties and buy two properties from the sale proceeds.

Does the capital gains tax excemption allow that ?

i already own anotrher flat which i do not intend doing anything about.

For clarity, the final intent would be to have three flats. One that i already own and two more than i plan to buy with sale proceds.

Vivek Mehta (CA, DISA,CS, MBA)

Vivek Mehta (CA, DISA,CS, MBA) (Expert)
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08 April 2012 No Sir you can not get the exemption in respect of the two properties that you are inteding to buy....but is the two flats that you are thinking and planing to buy are such that they are adjoining one or have a potentiality to get connected as one flat from a common entrance then you can get benefit of the same, therefore the new flats that you are intending to buy must be in a same appartment same wing and adjoining one's

Mihir Doshi

Mihir Doshi (Expert)
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08 April 2012 I would like to add my opinion and also agree with Mr. Vivek. Even you can buy a duplex flat where you can join two flats by single staircase and count it as one property.

Thanks
Mihir doshi

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