Hi,
I have gone through your query and I want to share that, budget 2018 proposes, among other things, a change to Section 54EC of the Income Tax Act. This clause currently exempts long-term capital gains (also known as "LTCG") on the sale of any Long-Term Capital Asset if the capital gains are invested within six months of the transfer date. You can sell the house after holding period of 3 years for LTCG exemption.
However, I would like to suggest that you should consult a property lawyer or tax consultant to get the proper advice for your query.
Get legal advice from the legal experts at NoBroker legal service.In the meantime, for a better understanding of the tax-free limit of LTCG check this out,
What Is The Limit For LTCG To Be Tax Free?Your Feedback Matters! How was this Answer?
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After how long can I sell my property which was bought to save LTCG
Neville
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1
3 Year
2022-03-22T11:05:46+00:00 2022-03-22T11:05:49+00:00Comment
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