pankaj, i have 2 residential properties. i live in one and rent the other out. I want to sell the rented one which was bought in Dec 2005 (posession given in Feb 2008) for an amount say X. To avoid LTCG I intend to buy a new flat for amount X which I want to sell within 6 months for amount Y. Will LTCG that is applicable for me be 20% of Y minus X ?.