LTCG, reinvestment and sale before 3 years

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  1. Taxin

    Taxin New Member

    Last year, I sold a residential property after 3 years of buying it and invested the entire sum in a ready residential property the same year. Now, if I sell this 1 year old property at the cost price and reinvest the entire sum in an under construction residential property, will there be a tax liability? Does 3 year period for holding the new property apply even in cases where there is no liquidation of asset and proceeds are to be reinvested in a residential property?

    Thanks.
     
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