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

Follow us
add to google news


Answer Query



Company
Featured 16 July 2026
Semi Qualified Company Secretary

Vakilsearch.com

Chennai

CS

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
20 July 2026
Senior GST Executive

Chandak Agarwal & Co

Mumbai

Graduate (Any)

View Details
Company
21 July 2026
Chartered Accountant

Keshri & Associates

Thiruvananthapuram

CA

View Details
Company
ARTICLESHIP 16 July 2026
CA Article

Pipara & Co. LLP.

Mumbai

CA Inter

View Details
Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details