House Property sold on 29.03.2021 (Sale Deed Registration) for Rs. 1 crore. Value of the property after indexation is Rs. 60 lakhs. Hence Capital Gain is Rs.40 lakhs.
Questions:
When should Capital Gain account is to be opened in a Bank? Immediately?
How much amount should be in Capital Gain Account ?
Whether the Balance Amount (other than Capital Gain) can be invested in Shares, Mutual Fund etc?
For purchasing the New Propertywhether the amount from Capital Gain account can be used?
Whether Resale - House Property can be purchased to avoid capital Gain ?
In which instruments investment is possible to avoid capital Gain Tax ?
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CAclubindia
