I have sold out a land and putting money in the bank account around Rs. 10,00,000. later on i will buy another land or do some other investment, what will be the tax implications on that?
I heard when i deposit that money in my bank account i have to pay tax. Is that true, if yes how much will that be?
It is not on depositing ur money in bank that attract tax.. its on the interest tat you received on ur deposit.
tax will be @ 10% on you interest amount.
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