LTCG on House Property 2024
This query is : Resolved
21 December 2024
Hi,
I sold a house yesterday for 60Lakhs , bought for 12Lakhs 10+ years back. Also, have made agreements with two builders to buy two flats , one in 2016 and the other in 2020. Both properties are under construction, as in not yet completed and no CC received yet. Final Registries are also due for the new flats and need to make payments to both builders , cumulatively exceeding the difference received.
1) How can the LTCG earned from the sale be utilised in this case ?
Please guide.
Regards
I sold a house yesterday for 60Lakhs , bought for 12Lakhs 10+ years back. Also, have made agreements with two builders to buy two flats , one in 2016 and the other in 2020. Both properties are under construction, as in not yet completed and no CC received yet. Final Registries are also due for the new flats and need to make payments to both builders , cumulatively exceeding the difference received.
1) How can the LTCG earned from the sale be utilised in this case ?
Please guide.
Regards
21 December 2024
You can claim exemption u/s. 54 IT act, in any one of the flat' provided you receive its possession in near future.
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