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 ?
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What if 80 lacs Capita Gain is invested in buying a residential flat?
Replies (3)
It better to give some advance to a contractor and proceed the work.
Contact mrgstconsultancy @ gmail.com for help
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.
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