Capital gain
How can I save my CG TAX?
A school furniture is out for sale.
At time of purchase of furniture Assessee bought it for 20 lacs, actual value at that time was 40 lacs.
Now assessee is selling its furniture, fair market value of which is 35 lacs.
Purchasing party is ready to pay only through bank.
So how can I save my Capital gain ?
As current wdv is around 15 lacs
Replies (1)
School may invest the sale procedes in purchasing the new furniture or some infrastructure bonds. This may reduce the CG liability in proportion of the porcedes utilized for such purchase.
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