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Query regarding capital gain tax deduction for second home purchase

Say I purchased a flat for 50L, and sold it for 60L, so 10L being the capital gain.

Lets say I purchase second homeworth 25L (using the 10L capital gain from earlier sale), and 15L from my own money. In this scenario will I get exempt from capital gains tax, or should I purchase for minimum 60L (which is the final sale price of my first home), to be able to claim tax exemption?

submitted by /u/No-Answer-6763
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1m8tna3/query_regarding_capital_gain_tax_deduction_for/
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