What will be the tax treatment if I sell the new property within three years of its purchase?

• Related Articles

• What is the time limit for investing the capital gains on sold residential property in a new property?

  For claiming exemption u/s54, the capital gains arising from sale of old property must be invested in: Purchase of another residential property within one year before or two years after the transfer of the old property. Construction on a residential ...

• What is the tax treatment of NPS?

  As per new rules, 60% of the corpus withdrawn at the time of maturity is completely tax-free. The rest 40% has to be annuity. Annuity income in the subsequent years will be taxable, based on the income tax slab of the investor. However, the total ...

• Can I take a loan against these bonds or convert them to liquid within the five years period?

  In case these bonds are converted to money or held as security against a loan within five years of investing, then the amount of capital gain which was earlier exempt from tax shall be deemed to be long term capital gain of the previous year and will ...

• Is there any relief provided for capital gains arising from sale of any long-term asset which is not a residential property?

  Yes,  u/s 54F, any gain arising from sale of long-term asset can be tax exempted if the entire sales proceeds are invested in ·       Purchase of one residential property within one year before or two years after the date of transfer of the asset, or ...

• I have paid property tax for the past years in this year. Can I claim deduction for entire amount of property tax paid?

  Yes. You can claim deduction for entire amount of property tax paid. The deduction on account of property tax is on a payment basis and not on the basis of charging year of such property tax.