Comment on Taxation Simplified

Nithin Kamath commented on 26 Sep 2013, 07:07 AM

Chica,

As long as you sell the property after 3 years from purchase it will be considered as a long term asset. You firstly get the indexation benefit which in your case is (25lks/519)*939 around 45lks, the number 519,939 for calculating indexation is available on this link.

Out of this 1.75 cr – 45lks = 1.3cr can be invested into any other property and will be exempt as per time limit.

Yes you can buy multiple residential properties from the sale of your 1st property.

It is best to go visit a CA on this aspect and the above is just our view on it.

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