Hello Sir,
I need your help, it would be nice if you could reply soon as it is urgent. Sold my 2 bhk house for 22 lakhs in July 2017 which was bought in 1991 for 60000, valuation as of 2001 is 3,76,000. I am buying a 1 bhk flat for 1500000 this month. Could you please tell me what will be the capital gains tax i have to pay?
Regards,
Ramona.
1 Answers
Dear Ramona,
For calculation of tax, suggest you to kindly consult a CA.
You can use the entire Long Term Capital Gain proceeds on sale of a residential house to buy another house property (residential property) to save Capital Gains tax. - Section 54.
Related article :
https://www.relakhs.com/how-to-save-capital-gains-tax-on-sale-of-land-house-property/
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