A query regarding the sale of my commercial property

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  1. Anshul Kapoor

    Anshul Kapoor New Member

    Hello Team,

    Please note that I would like to sell my commercial property in Noida Sec - 98, which I bought in May 2014 and want to invest this amount in buying a residential property in Sec - 75, Noida.

    Also, I sold a residential property in Greater Noida, which I bought in May 2010 and finalized it's sale in Feb 2016 for the same purpose.

    So, can you please help me in advising the total taxation liability, which I have to adhere to and guide me to save the tax, if I am buying a residential property for my personal use.


    Thanks in advance,

    Anshul Kapoor
     
  2. Chandrashekar M

    Chandrashekar M Active Member

    Capital gains Exemption U/s.54F is available for any one house.
    That is selling commercial property and purchasing a residential property
    or selling residential property & purchasing another residential property.
    Exemption is available to any one house that is, Your Noida sector 98 property or Greater noida property.

    Regards
    Chandrashekar
    http://incometaxdoubts.wordpress.com
     
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