Real estate Sale save tax

samratsarkar (student) (52 Points)

06 September 2012

Hi Everyone,

We are selling our primary residential house constructed in 1975 for INR 1Crore. We dont want to buy any more property.

Cost of the property construction in the Year 1975 was INR 5 lakhs.

Like to Save Long Term Capital gain Tax.

What will be our approximate Long Term Capital Gain Tax?
Should we deposit the Bank Check( Sale amount) in to a new Bank Savings Account or to an old Existing Bank Savings account ?
How much time from the sale date do we have inorder to buy Section 54EC Bonds (NHAI bonds) to save Long Term Capital Gain Tax ?

Reply
Follow
Share

3 Replies

Supriyo Banerjee (Executive Finance) (181 Points)
Replied 06 September 2012

Your answer is in excel file....

Attached File : 590989 1050537 sol.xls downloaded: 177 times

samratsarkar (student) (52 Points)
Replied 07 September 2012

Hi Supriyo and others,

Please answer how much I need to invest to save Long Term Capital Gain Tax. I didnt understand all the acronyms in your spreadsheet.

What will be our approximate Long Term Capital Gain Tax?
Should we deposit the Bank Check( Sale amount) in to a new Bank Savings Account or to an old Existing Bank Savings account ?
How much time from the sale date do we have inorder to buy Section 54EC Bonds (NHAI bonds) to save Long Term Capital Gain Tax ?