Long Term Capital Gain Tax

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  1. B Singh

    B Singh New Member

    I have two residential properties in my name..one was gifted to me by mother through a gift deed in 2003. The other was purchased by me in 2010. If I now sell the gifted property do I have to pay LTCGT. Am I eligible for tax exemption if I reinvest in another property. If yes under which section and what are the provisions and conditions.
  2. Karan Batra

    Karan Batra Well-Known Member

    If these are flats - then you can reinvest the proceeds in another flat to claim capital gains exemption
  3. Hussaini

    Hussaini New Member

    Dear Karan Batra,

    I own three houses, one of them being bought 3 months back. And i am planning to sell 1 house from the three. Can I claim LTCG exemption. And should I invest within 1 / 2 years to buy from the sale proceeds.
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