Capital gains

This query is : Resolved

Gopalakrishnan (Querist)
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31 March 2018 I sold my flat in Aug 201t at 44,000,00 which was bought at 14,00,000 in 2007 March. As per my calculation the capital gains after indexation is about 15,000,00. I have used Rs 20,000,00 for a new flat in Dec 2017.will there be any capital gains tax further/

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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31 March 2018 I assume the flat is bought in 2016 i.e 1 year before the date of transfer of the Capital asset and the amount invested in purchase of new asset is more than the capital gains ---- Capital gains is exempt