Residential house

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 November 2014 Hello ,

I sold my house last month which was an ancestral property acquired before 1981.I want to invest that money as FD in bank so that i can get interest.I know that there is long term capital gain on that sale portion but i am not intrested to pay tax on that because all i have is that money which i should keep for my family..So pls advice me on how can i be safe.I am not intrested to built or buy new house

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

10 November 2014 You can keep the money in Capital Gain bond and save the tax.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

11 November 2014 will i get interest on the money deposited under capital gain bond scheme??if yes rate of interest ??? how long should i deposit??can the amount be withdrawn before expire of term??

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

11 November 2014 there are 2 companies. REC. (Rural Elctrical Corporation) and NHAI (National Highway Authority of India.
The rate of interest is slightly less than FD rates. Lock in period is there and you can NOT withdraw before expiry, otherwise the exemption would be withdrawn.
Make the enquiry as to rate and lock in period with some investment broker.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rajat Khandelwal

efiletax

asmita gupta

Shraddha Pangam

Choudhary

Subscribe Now

Residential house

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA