Team,
I am from Mumbai. I sold out my residential property in March-22 last FY 2021-22, stamp duty and registration done of buyer in this month only. I am planning to buy new residential property in withinh next 2 months, mostly till September as property identified. My query is am I eligible for capital gain tax as I sold my old property in March-22? My tax advisor said I have to buy new property and get stamp duty registration done befor 31st July ITR filing date, if I failed to do so, I am liable for capital gain tax. Kindly help me to resolve this query as I am confused. Thanks in advance.
