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Capital gains exemption

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18 June 2012 i am owning a flat at chennai jointly with my wife .Before buying this i bought residential house at trichy .since i settled at chennai i am planning to dispose off the house at trichy and buy a residential house at chennai for an amount = to sale proceds of trichy house. In this should i pay capital gains tax .pl clarify thanks a lot

19 June 2012 You can avail exemption u/s 54 if the trichy house is hold by you for more than 36 months

19 June 2012 anand dubey sir, thank u so much for ur immediate help and response
mayil




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