Dear Shreekanth Reddy ,
I have purchased a 3000 sqft for Rs.13,00,000/- lakhs approved Panchayat land lay out by VGP builder near Karondi near Red hills . later built a small house of 750 sqft, total construction cost including boundary wall, EB , Bore etc. was Rs. 20,00,000/- lakhs. So now I am planning to sell the property for Rs. 35,00,000/- lakhs . Do I have to pay the tax , if I am eligible for tax, than how to save tax . or is it possible that the buyer can register only the land , and balance amount for built-up area cost me settle in cash please advice.
Regards
Gurmeet