LTCG - whether applicable
This query is : Open
12 April 2021
Sir-s
I purchased a flat in 2000. sold it in 2016 . With the LTGC I bought another flat.
Now I want to sell this in (2001), I do not want to buy any flat. How will the proceeds will be accounted?
Thanking you sir.
vijayakumar
I purchased a flat in 2000. sold it in 2016 . With the LTGC I bought another flat.
Now I want to sell this in (2001), I do not want to buy any flat. How will the proceeds will be accounted?
Thanking you sir.
vijayakumar
12 April 2021
Query is not clear. How can you now sell the flat and show it as sold in 2001!! Do you want to sell during this FY?
12 April 2021
Sorry sir . To be clear --- bought the flat in 2000 for 17 lac in chennai . Sold it in 2016. for 109. With this money , added 30 lac more bought a flat in bangalore in 2016 .for the respective year filed the returns also . Now i am 70 yrs . I want to sell this flat , do not want to buy any thing . I will be selling at the same price as i bought , i do not gain . Thisbis the situation . Thank u sir .Hope i am clear.
12 April 2021
No tax liability if there is no capital gain now.
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13 April 2021
tHANK YOU VERY MUCH MADAM. gOD BLESS YOU.
13 April 2021
thank you sir
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