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What if 80 lacs Capita Gain is invested in buying a residential flat?

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naval rungta

117 Points Posted on 11 April 2022

If I sell the stocks it will result in Cap

ital gain of 70 Lakhs. I want to invest whole amount for buying a residential flat with in a period of 1-2 yrs

1)Were do I park the money ?
2)Do I have to pay Capital Gain Tax ? @ What rate as it will be long term - more than 10 yrs ?

Please advice ?

Replies (3)

Quick Summary

This discussion explores options for investing a 70 lakh capital gain from selling stocks into a residential flat within one to two years. It addresses where to park the funds safely and whether Capital Gains Tax is applicable, especially for long-term investments. The advice suggests utilising the 'Capital Gain Account Scheme' in an authorised bank to defer tax obligations until the property purchase is complete.

sabyasachi mukherjee

Profession

19978 Points Posted on 11 April 2022

It better to give some advance to a contractor and proceed the work.

rahul firemike

94 Points Posted on 11 April 2022

Contact mrgstconsultancy @ gmail.com for help

Kev Men

486 Points Posted on 11 April 2022

Since you want to buy a residential flat within 1-2 yrs...you can park the money in 'Capital Gain Account Scheme' in an authorised bank and save tax. When you are ready to buy the flat, you can then withdraw and use it to buy the flat.