I registered for a house in April, 2006 for Rs.10 lac and took its possession in October, 2006. If I sell it now for Rs.20 lac what will be the capital gains tax? Is it necessary for me to pay the CGT even if I reinvest it to buy another house? If so, is there any alternative investment available?

K.Muthu Kumar

Dear Muthu,

This is a US based Tax site, we deal with USA tax laws only.

Thanks.