Long term capital gain
This query is : Open
Faisal Sharif
(Querist)
08 March 2019
Hello Sir,
I have sold a residential house Rs.70,00,000/- after a period of 10 years from its acquisition, getting a LTCG Rs.51,13,320 after indexed cost formula and purchased a new flat worth Rs.40,92,600/-, still getting a gain of Rs.10,20,720/-, please advice where i can utilize this amount except depositing the complete gain in Government specified bonds and also don't want to pay tax @20% on this gain.
Thanking you.
I have sold a residential house Rs.70,00,000/- after a period of 10 years from its acquisition, getting a LTCG Rs.51,13,320 after indexed cost formula and purchased a new flat worth Rs.40,92,600/-, still getting a gain of Rs.10,20,720/-, please advice where i can utilize this amount except depositing the complete gain in Government specified bonds and also don't want to pay tax @20% on this gain.
Thanking you.
K Srinivas, CMA CS
(Expert)
14 March 2019
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