11 May 2012
suppose I have 2 house property,one is self occupied & other is on let out.I wanna sold my let out property & purchase another house property.whether any capital gain consequence will arise or not?
11 May 2012
YES CAPITAL GAIN WILL BE ARISE BUT IF CAPITAL GAIN IS LONG TERM CAPITAL GAIN THEN YOU CAN CLAIM DEDUCTION UNDER SEC 54 OF PURCHASING OF NEW HOUSE PROPERTY.
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