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Tax rule on selling a house to buy another

I have 2 homes in Pune. I want to sell my second home and buy another home at a convinitient location near my work place. To buy new home, I need to add more money above the selling price of my second home. Do I need to pay tax on profit earned over my second home - if I am going to invest all of that money into new second home ?

Asked by

Dinesh Kumar (1) in category Property Taxation Queries on Apr 23 at 6:10 am

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First Answer

No you dont need to pay tax as long as you are investing all the proceeds into the new house

Answered by

Vikas, on Apr 24 at 7:28 am

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