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I have 3 houses. Will I get capital gain benefit if I invest in fourth house? - Property Hotline
Posted
January 5, 2017
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January 5, 2017
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1:50Now PlayingExpert: Pannkaj Ghadiali, Managing Partner, P C Ghadiali and Co LLP
Q: I have 3 residential properties and one industrial plot in Chennai. I bought the plot in 2003. I want to sell this plot and buy a fourth residential property. Am I eligible for benefits on capital gains tax?
A: The answer is NO because if you already have more than two properties then you cannot get any benefit on capital gains from reinvesting in a property. There is a cap that you can do it only on the second property that you have been investing. At a time you can hold only up to two properties.
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