Capital gain.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 August 2013
Dear Sir,
Suppose i sell out my house property say at 100 rupee and at the same time i buy an another house property with say 60 rupee. Will this 40 rupee be treated as capital gain. What will be the tax liability thereon and what is the legal way to evade such taxes.
Look forward to the valued opinion as always.
Suppose i sell out my house property say at 100 rupee and at the same time i buy an another house property with say 60 rupee. Will this 40 rupee be treated as capital gain. What will be the tax liability thereon and what is the legal way to evade such taxes.
Look forward to the valued opinion as always.
26 August 2013
yes if you have 40 rs then if it is long term capital gain then 20% with indexation tax needs to be paid.
legally if u want to save tax (not evasion as mentioned) u should invest the bal 40 in sec 54EC bonds within 6 months of transfer of old house.
legally if u want to save tax (not evasion as mentioned) u should invest the bal 40 in sec 54EC bonds within 6 months of transfer of old house.
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