Tax on capital gain

[Asked by Guest]

I am planning to sell my property which is located in villupuram district and it was bought 3 yrs before (3 yrs about to complete), If i sell my property now,

1. will i be entitled to pay tax on capital gain?

2. is there any other way to exclude to pay tax on capital gain like buying new property in the FY. if yes, what is the time duration, within that, i need to buy the new property.

pls advise

AI Summary

Capital gains tax: whether sale of recently acquired residential property triggers tax and if reinvestment exclusion applies.
Whether sale of a residential immovable property purchased about three years ago will attract capital gains tax and whether purchasing a replacement property can exclude that tax, including the time period within which the new property must be acquired to qualify for any exemption.