Best way to park cash earned from selling real estate for a year

I have recently sold a property bought booked in 2017 and handed over in 2022 . I have around 10 lakhs of capital gains without considering indexation . i plan to buy another property within 2 years with the cash received from the sale . Meanwhile , what is the best way to park this cash and avoid/reduce any further income tax earned from the returns of this cash amount . I am salaried employee and the interest amount will be taxable for me . Is it recommended to have it Fixed in a bank through my parents who are senior citizens ? I do however need it back while buying another property in the next 2 years 

Replies (6)
Quick Summary
After selling a property, you've realised a significant capital gain and need to park the funds for up to two years before buying another home. You're seeking the most tax-efficient way to hold this cash, considering the interest earned will be taxable. Options like the Capital Gains Deposit Scheme (CGDS) are discussed, which can exempt the capital gain itself if reinvested in property within two years, though the interest earned remains taxable. The possibility of using senior citizen accounts for potentially higher interest is also mentioned, alongside deductions like 80TTA for interest income.

You can deposit the sum in Capital Gain Deposit Scheme and utilised it in 2 years and if you are planning to buy residential property you will also get exemption u/s 54F

But the interest earned on it in a CGDS account will be taxable as per income tax slab. Is there a better option ?

But Capital Gain earned will be exempted also.
I agree with CA Rashmi gandhi
And if I talk about interest you can also claim deduction u/s 80TTA.
Though interest will be earned less
Why you are reply so erroneously on each post
@ sabyasachi mukherjee.

Just behave like CMA

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