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Long term capital gain

This query is : Resolved 
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(Querist)
13 August 2012

Dear Experts,

Please resolve my query .

An assessee is having Rs. 2 Lacs as salary income and a long term capital gain on sale of gold for Rs. 1 Lacs . In all the assessee is having a Gross Total Income Of Rs. 3 Lacs .

Now I want to know what is the tax liability ?

If the Tax is Rs. 20600 (being 20% LTCG +cess); how i can save it ?

Urgent reply needed. Thanks in Advance
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
13 August 2012 YOU CAN SAVE YOUR CAPITAL GAIN TAX BY TAKING BENEFIT OF EXEMPTION U/S 54 EC OR F

REFER TO ABOVE SECTION....
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Rahul Nagpal

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Rahul Nagpal (Querist)
16 August 2012 Sir

I want to know if i have to invest the sale proceeds or the capital gain?
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
16 August 2012 whatever amount you invest out of sale proceeds is eligible for exemption.
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