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MOIN ALI (Querist)
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31 May 2016 my friend sold his house in April for 1.8 crore. his share is 33%. can he avail tax benifit. aquisatiin period is 1983. sold year 2016. improvements cost is. 4 lakh (2015). so please suggest some tax savings plans just like capital gain scheme.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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31 May 2016 Yes, he can avail tax benefit for his portion

Either invest the capital gains in purchase of a new property within 2 years from the date of transfer or construct a new property within 3 years from the date of transfer.

Else he may invest the gains in specified bonds of RECL /NHAI specified by GOI.

MOIN ALI

MOIN ALI (Querist)
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01 June 2016 thank you sir

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