23 February 2012
i sold one residential property in 1-sep-2011 for 18lacs ,cost after idexation is 5 lac, net capital gain is 18-5+=13 lacs 0n 31-3-2012 net tax liability =13lacs*20%=260000
how if i invest 13 lacs in any other house property on 10 -apr -2012 ie next financial year but with in one year of sale of residential property
while filing itr -4 for FY 2011-12, should i pay LTCG tax rs 260000 , even i inveted this in next FY 2012-13 but with in one year,
CAclubindia
