17 December 2012
I want to ask one query of Capital Gain.
There is Person X who acquired the right of property from the Housing society of Rs 4,00,000 in 2004 and Now in 2012 He sales the Right to another person of sales consideration of Rs 19,00,000. Now, There is Long Term Capital Gain. Now the Person X want To save The tax And Want (Tax Planning). Kindly Revert Back as soon as Possible
17 December 2012
1.He can save tax by investing in Capital Gains Bonds U/s 54EC. . 2. He can save tax by investing in a Residential House provided he is not having more than one house on the date of transfer of right in the Society's property. . 3. He may opt to take partial benefits under 1 and 2 above.
CAclubindia
