i have sold my land and received a total amount of RS 20 LAKH FROM THE SALE OF THE SAME AND HAS MADE FD FROM THE SAME FOR 4.5*3=13.5 LAKH AND THE REST AMOUNT WHAT TO DO AND MY TAX IMPLICATIONS AND HOW CAN I REDUCE THE LIABILITY FOR THE SAME PLEASE HELP AND GUIDE ME
Considering it to be long term (held) asset....... calculate its (LT) capital gains by reducing indexed cost of aquisition from sale proceeds.
Invest the same in any house property or capital gains bonds of NHAI or REC for reducing tax liability.
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