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LTCG on sale of flat..

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apro

TaxPayer

50 Points Posted on 20 August 2023

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.

Replies (2)

Quick Summary

This discussion addresses Long Term Capital Gains (LTCG) tax implications when selling a flat. The user purchased a property for 2 million INR in 2014 and sold it for 7 million INR in 2023, seeking advice on the tax payable. They also inquired about investing tax gains in stocks to avoid tax. The response suggests options like investing in NHAI or RECL bonds within six months of the sale, or purchasing another residential property if none is currently owned.

sabyasachi mukherjee

Profession

19978 Points Posted on 20 August 2023

2 million into indexed cost of acquisition.
any other stamp duty not fulfilled.

chhabi mohapatra

28 Points Posted on 20 August 2023

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.