Capital gains

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67 Points Joined November 2011

Hi Everybody,

I have to invest my funds invested in State bank of india capital gains avoidance Fixed deposit account  in a new construction within 3 years that is before 21.1.2012 to avoid 20% capital gains tax.

If i donot find a house or flat of my choice, by investing the funds in some Government of India bonds  (long term ) , will give me relief or i have to pay the tax.

Please someone help me sir

Thank You in advance

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On 26 December 2011 at 09:11 Report
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Manager (Advance)
901 Points Joined March 2008
Can you please specify that how the capital gain was arise and you invest under which section??
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On 26 December 2011 at 11:03
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Manager (Advance)
901 Points Joined March 2008
If that's u/s 54f. Then whole will be taxable in a.y. 2012-13. Additionally you CAN'T purchase house now you have to get it constructed in order to claim exemption.
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On 26 December 2011 at 11:07
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67 Points Joined November 2011

i DO NOT KNOW THE SECTION. bUT I INVESTED IT IMMEDIATELY AFTER SELLING A LAND IN MY NAME. i DO NOT POSSESS ANY HOUSE IN MY NAME.

CAN I PURCHASE A FLAT RECENTLY BUILT BY LARSEN AND TOUBRO ( SOME finished flats ready to occupy FLATS ARE still available in their project IN CHENNAI

Thanks

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On 26 December 2011 at 16:50


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