Capital gains
T V Nagender
(Querist) 08 March 2013
This query is : Resolved
sir,
i have purchased a plot in 19777 and built a house. now i propose to sell. if the purchaser is giving the money in instalments spreading to six months. the registration will be done after full payment. mean while can i utilise the advance money being received in instalment for purchase of another property or i have to wait till registration is over and only buy the new property. pl calrify theposition.
thanks
nagendra
Sankaranarayanan
(Expert) 08 March 2013
you can utilize it , but the registration of the property should be after the sale of exciting your property in addition if any different of gain from the sale then you have to pay the portion of capital gain tax.
Raj Kumar Makkad
(Expert) 08 March 2013
The computation of the capital gain shall be made after registration of the sale-deed, however, you can definitely buy some another residential property against the earnest money received to you.
