Capital gain tax saving from sale of plot
This query is : Resolved
01 December 2021
Namaste sir
I'm Narahari from Bangalore, I had sold my plot for Rs43 lakhs and deposited in capital gain account in bank.
Now I'm purchasing 15 years old flat for Rs 37 lakhs.
The remaining 6 lakhs can i use to modernize my new house like
New wardrobe
Change of floor titles
Change of rest room fixtures
Painting and other miscellaneous
So to avoid capital gain tax
Please advice
Regards
Narahari
6360363391
I'm Narahari from Bangalore, I had sold my plot for Rs43 lakhs and deposited in capital gain account in bank.
Now I'm purchasing 15 years old flat for Rs 37 lakhs.
The remaining 6 lakhs can i use to modernize my new house like
New wardrobe
Change of floor titles
Change of rest room fixtures
Painting and other miscellaneous
So to avoid capital gain tax
Please advice
Regards
Narahari
6360363391
Dhirajlal Rambhia
(Expert)
01 December 2021
Deduction of Rs. 6 lakhs expenditure after purchase, may be disallowed. Better if you manage to get it repaired before purchase, so that the agreement value along with stamp-duty registration, brokerage etc. comes to 43 lakhs.
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