tax exeption

Hi Pankaj I would like to sell my property and buy a another property which is under construction and may take more than 5 yrs to complete. Will i still have to pay the capital gains tax?

asked Apr 12 '11 at 01:16 by tas 111


To save income tax on capital gains, new house must be constructed within three years of sale of old property.

In case its not over in three years, tax will have to be paid.

answered Apr 12 '11 at 10:50 by pankaj 5.2k320

link

Know someone who can answer? Share a link to this question via email, twitter , or facebook
.

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Tags:

×339
×327
×81
×14

Asked: Apr 12 '11 at 01:16

Seen: 951 times

Last updated: Apr 12 '11 at 10:50