How to tax planning

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2013 If a person buy Property in Rs. 10 Crore and sale in Rs. 60 Crore after 10 Year,
so haw can he tax planning for Rs. 50 Crore..

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 December 2013 you have no provided the nature of the property. Regardless, you can refer to section 54, 54EC and 54F for the exemptions provided therein. This would include buying a residential house property and the exemption shall depend on whether the property should is a house property or not. In case of house property you can invest in buying or constructing a house to claim exemption - the exemption is based on capital gains reinvested.

In case of other investments, section 54F shall apply and exemption shall depend on the reinvestment of the consideration received.

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