SALE OF OFFICE PROPERTY .

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2011 I have a office property, which is currently rented out.I am showing the rental as office rent in p&l , and in the computation claiming 30% exemption for this under income from house property.

I have also invested in another house property,by taking a home loan, which is under construction , and which I Plan to rent out once I get possession.

Ref the Office property on rent,IF I sale this premise,and buy a godown,with a higher value ( by taking a loan against it ) and put it out on lease, will this sale attract capital gains ?

Please advise.