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Samkit Maniar  |180 Answers  |Ask -

Tax Expert - Answered on May 26, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more
Asked by Anonymous - May 06, 2024Hindi
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I am selling my house for two crore.I am intended to by flat of same amount within a year. Will this amount is going to be taxed in 2024/25 .

Ans: There would not be any capital gains however you will need to maintain this amount under capital gains account scheme for this year to ensure to get the capital gains tax exemption before filing your return of income.

Please take advice from your CA before moving ahead.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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