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LTCG tax related

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Kumaran Durairaj

15 Points Posted on 25 May 2021

I have sold my land property. And I have already 2 flats in my name. Can I invest in another flat or land to avoid LTCG tax?if not, please let me know if any other options available to save tax.Thanks

Replies (5)

Quick Summary

If you've sold land and own two flats, you might be wondering how to avoid Long Term Capital Gains (LTCG) tax. While buying another property might seem like an option, it's not always straightforward for tax exemption. Consider investing in 54EC bonds within six months of the sale to gain tax exemption, or explore purchasing a residential flat in your spouse's name under Section 54F.

Sivaramaraju G

Learner

2398 Points Posted on 25 May 2021

You can invest in 54EC bonds with in 6Months from the date transfer of property. to get exemption from capital gain tax.

or else purchase residential flat on your spouse name to get exemption u/s 54F.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 25 May 2021

Invest in 54EC bonds within 6 months of sale

veerendar singh

tax consultant

3306 Points Posted on 25 May 2021

Tax saving tools will leave you with no cash at all. after sale of land you received lacs of rupees. if you want to save tax then you will have to invest all your money. then you will not have spare money remaining.

if you dont have any plan to make big expenditure then there is no issue in saving tax. if you need money urgently then it is futile to save tax.