I purchased a house in April 2010 in 33 Lakh (including registry charges,and broker fee) rupees and sold the same in August 2015 in rupees 60 Lakh. Also I had spent 5 lakh rupees in the renovation of house in year 2014. renovation include painting, wooden work and some extension in building. kindly tell me tell me
i) how much tax i need to pay in terms of Capital gains?
ii) what certificate i need to produce to claim renovation costs deducted from profits.
iii) can i purchase a residential plot to avoid capital gain tax?
iv) if i have to purchase a house again, how much is time allowed to me ? and can i invest this fund in fixed deposits till that time?
Thank you.