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. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details