Capital Gains Exemption in case I already own another House

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  1. C D Inamdar

    C D Inamdar New Member

    I have 2 questions as follows,
    1) I want to sell my old house and from capital gains I will purchase a flat. Can this flat be from second sale or is it to be directly from builder?
    2) Am I eligible for the above if I own another house jointly with my son?
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    1. You can reinvest the capital gains in purchasing a house from 2nd sale as well and it is not necessary that it should be from a builder. The only criteria is that it should be a residential house and it does not matter if it is a 1st sale by the builder or a subsequent sale.
    2. You can claim exemption even if you own another residential house property with your son
     
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