My query is, i have 4 flats in the same building in my name which i got through JDA for my share and out of which i am planning to sell one flat to a customer who is going for housing loan of 25 lakhs for the consideration of 30 lakhs. i want to know what are the tax implications and exemptions available for me..and how can i minimise my LTCG on the sale...i got the above flat in the FY 2009-10.
30 September 2011
Sir thank you for your kind reply. I was awaiting reply for my query, and now i have decided to sell the above mentioned flat after its 3yrs only. I want to know under LTCG if i sell after 3 yrs will the tax exemption u/s 54 can be claimed if i am having multiple residential properties other than the self occoupied residential property.
30 September 2011
Sir thank you for your kind reply. I was awaiting reply for my query, and now i have decided to sell the above mentioned flat after its 3yrs only. I want to know under LTCG if i sell after 3 yrs will the tax exemption u/s 54 can be claimed if i am having multiple residential properties other than the self occoupied residential property.
CAclubindia
