I bought a flat for 2 million INR in 2014. The flat is sold for 7 million INR in 2023. When filing returns how much I need to pay as tax on LTCG ? To avoid paying tax can I invest the tax gains in purchasing stocks ? Please advise.
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LTCG on sale of flat..
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Quick Summary
2 million into indexed cost of acquisition.
any other stamp duty not fulfilled.
any other stamp duty not fulfilled.
Amount of tax is depends upon your investment. You can buys Bonds of NHAI, RECL etc within 6 month from the date of transfer. Another option can be that you can purchase a residential house property if you don't have any residential property.
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