Long term capital gain on house property
kiran jhamnani (Finance Professional) (119 Points)
23 December 2016kiran jhamnani (Finance Professional) (119 Points)
23 December 2016
shubham Pahuja
(Chartered Accountant)
(236 Points)
Replied 23 December 2016
CA VIRAL SANGHVI
(Finance head)
(681 Points)
Replied 27 December 2016
Hi,
The benefit is available to an individual and huf
If you are planning to build a new house, the constuction has to be completed within 3 years from the sale of property
Buying an under construction property is alos eligible for tax deduction provided the construction is completed within 3 years
so in your case if you can not construct a house you have to pay the capital gain on 16.50 lacs