Legal Question in Banking Law in India

hum apna house sell kar rahe hai house sell karne per jo chek se payment hoga us se hum lease per home le sakte hai ager ha to kitne time ke liye kya us chek se hume house hi lena padega


Asked on 2/21/15, 10:29 pm

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP

22.02.2015

Dear Sir / Madam,

Yes, you can acquire another house on lease from the sale proceeds of your own house. There is no time limit on the period of lease. However, on the sale of the house, if any long term Capital Gains tax liability arises, then to save the Capital Gains tax, you will have to acquire a new house within two years, or construct an house within the next three years. Alternatively. you can alternatively invest in certain Government schemes like the Rural Electrification Corporation Limited or the National Highways Authority of India Limited to save on paying Capital Gains tax on the sale of your house. I suggest you consult a local Chartered Accountant in your locality to guide you correctly in the matter.

Regards,

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Answered on 2/22/15, 10:13 am


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