capital gain

Dear Pankaj thnx for quick reply but still i have some doubts 1. Can we purchase the two properties in joint name or we have to purchase it separate individually 2. If first property a flat is purchased for 55.00 lakhs from builder. Can one spend more 20.00 lakhs in improvement & registration of this flat from the capital gain money to make it 75 lakhs. 3. If second property a plot is purchased for 75.00 lakhs. can one spend more 20.00 lakhs in construction of the house with in three years from other savings to get C G tax rebate.1.

asked Aug 06 '11 at 17:33 by Sudhir Pundir 1222


  1. You cannot purchase two properties jointly as exemption can only be availed only for a single property. You can either buy two (one each individually) or single with joint ownership.

  2. Yes, registration amount and further construction amount can be added to new house cost.

  3. Yes, a plot can be purchased and a new house can be constructed on it within next three years from sale. Total plot cost + construction cost can be counted to claim tax benefit.

answered Aug 06 '11 at 22:21 by pankaj 5.2k320

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Asked: Aug 06 '11 at 17:33

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Last updated: Aug 06 '11 at 22:22