Cap gain of hp

a person sold his long term residential property...getting a net sale consideration of 19lacs......and later he purchased another land....is ther any way to save the tax....
Replies (5)
Quick Summary
If you've sold a long-term residential property and received a net sale consideration, you might be able to save on capital gains tax. To qualify for exemptions, the reinvestment must be in a residential property. Simply purchasing land, even agricultural land, won't suffice unless you construct a residential house on it. Consider building a low-cost structure to potentially utilise the land for tax planning purposes.

Unless you construct any HP over the land purchased, no exemption over LTCG.

Will the answer change if he purchased rural agri land?

No. Exemption available on over HP.

What is the value of land..

One tax planning that you can do is construct a small low cost structure with a rest room and kitchen platform depending upon the size of land. 

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