A.Dear Sir,
The person who receives proceeds of sale is liable to pay tax to the Income Tax Department and such amount to be used to purchase another house within a certain period.
The person who receives proceeds of sale is liable to pay tax to the Income Tax Department and such amount to be used to purchase another house within a certain period.
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Subhashis Paul
Responded 1 year ago
A.The selling price of the concerned property exceeding the previous purchasing price of the said property with a view to the present market value of the same will be considered as the total gain incurred by the seller of the concerned property.
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