Capital gain
This query is : Resolved
28 May 2012
I had Purchase Plot on JAN-2006 @ Rs.67000
& Sold Plot on MAY-2011 @ Rs.181000
On the above data I Calculate Capital Gain is Rs.15486
what can I do to save this Tax amount.
& Sold Plot on MAY-2011 @ Rs.181000
On the above data I Calculate Capital Gain is Rs.15486
what can I do to save this Tax amount.
28 May 2012
OPTION 1.Acquiring a new residential house.
CONDITIONS:) you have to acquire new house with in 1 year before or 2 years after from the date of trnasfer.
2.construct a residential house within 3 from the date of the transfer of the original house. (Construction must be completed within these 3 years.)
3.The new house property purchased or constructed has not been transferred within a period of three years from the date of purchase or construction.
OPTION 2:purchase of Bond of NHAI /REC with in 6 months from the date of tranfer.
CONDITIONS:) you have to acquire new house with in 1 year before or 2 years after from the date of trnasfer.
2.construct a residential house within 3 from the date of the transfer of the original house. (Construction must be completed within these 3 years.)
3.The new house property purchased or constructed has not been transferred within a period of three years from the date of purchase or construction.
OPTION 2:purchase of Bond of NHAI /REC with in 6 months from the date of tranfer.
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