Capital gains’ tax liability on selling a house

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SummaryThe real estate market is growing and this is evident from the hordes of advertisements in newspapers.

returns, to stay eligible for the exemption.

The deposits with CGAS must be utilised within the specified period, i.e., two years if a property is purchased or three years in the event of construction of property. If the amount is not fully utilised, it shall become chargeable to tax.

The author is a director in KPMG. The views expressed are personal

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