Sir,
I am selling a land property purchased 5 years ago on which I will be having a LTCG of Rs. 1.2 crore after indexation. Will I have to pay LTCG @ 20% on the whole amount of Rs.1.2 crore or there are some changes in the new budget regarding LTCG.
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New capital gains law for 2014-15
Replies (2)
If your computed LTCG comes to 1.2 cr, then you may purchase another property and can claim exemption u/s 54F or you may buy bonds + property u/s 54EC and 54F. Only 50 lacs can be invested in bonds.
completely agree with answer of mr. mihir.
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