Ltcg help required in delhi

You will have to first compute long term capital gain, and invest the same in another property to save tax.

Originally posted by : Mihir
	You will have to first compute long term capital gain, and invest the same in another property to save tax.

but i dont wish to invest the same,the ltcg is about 36 lakhs.

Profit or gain on transfer of Capital asset is taxable in the year in which such transfer took place. you can save tax amount if you invest gain or net consideration on Investments specified u/s 54. otherwise you need to pay tax.