i want to sell my land and want to transfer amount to my account directly and now i am worrying about income tax cause i am not liable to pay any tax according to my salary.
can anyone suggest something ?
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tax liability on land selling.
Replies (3)
If you earn profit over the sale of land, you are liable to pay tax over the gain.
But if the period of holding be more than 2 years, you can save tax by cost indexation (inflation factor)........ and exemption by investment of the sell proceeds into some specified bonds u/s. 54EC like NHAI, REC etc.
Dear Dhirajlal Sir.,
Thank you for the reply. Please tell me how to find the specified bonds like Re-investment......
Thank you for the reply. Please tell me how to find the specified bonds like Re-investment......
Hello Anuj
You can invest NHAI Bond for profit Exemption of tax
You can invest NHAI Bond for profit Exemption of tax
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