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Can we buy a new plot within three years of lock-in-period?- Property Hotline
Posted
July 21, 2016
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13
July 21, 2016
13
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4:46Now PlayingBe Un Confused
Expert: Suresh Surana, Founder of RSM Astute Consulting.
Question: I sold my old house and bought another property with the gains. I'm unhappy with the property and wish to sell it. It's just been a year since I bought this home. Is there a 3 year lock-in period before buying another home?
Answer: Lock-in-period of three years are applicable if you claim exemption u/s 54. If you would have sold this new house within three years, then the exemption which was claimed earlier would have been forfeited.
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