Income tax on sale of house.


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
04 December 2011 My friend is having a Tenament which is purchased by him 20 years back and now he intends to sell it. The sale price would be more than 50 times of the original purchase cost by him and in that case what would be his income tax liability.

If there are any ways and means to restrict his tax liability to the bare minimum extent, the same may also kindly be indicated.

04 December 2011 Your friend may be advised to purchase a beautiful residential house from the amount of Capital Gain he would be getting.

04 December 2011 Your friend can save tax to invest capital gain amount in new house property or NHAI bond or RECL bond u/s 54.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
05 December 2011 Thank u experts. I request more experts to offer comments please.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
30 October 2026
Asst Manager Accounts

Goodwin Pumps India Pvt Ltd

Chengalpattu

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details