Long term capital gain
Querist : Anonymous
I have sold my house in july 2011 & have long term capital gain of rs. 40 lakhs & bought a plot in aug 2011 & paid rs. 30 lakhs in aug 2011 & next full & final installment of this plot is in 30 apr.2012 for rs 10 lakhs.I also get a rs. 1 lakh as interest by investing bal. 20 lakh (10 lakh principal & 10 lakh ltcg) during july 2011 to apr 2012.
now please tell me about the status of taxes
(Construct at least 1 Room Kitchen)
.
Interest is taxable under the head Income from other sources.
.
Querist : Anonymous
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