How to save 20% flat tax on sale of land where we can invest

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 April 2012 sir,
how to save 20% flat tax on sale of land where we can invest in bank or other sector please detail me name of all banks and other sector where we can invest and rate of interest also the interest amount which we receive is taxable or tax free?
what u suggest to invest or pay tax

CA Kishore Tallam

CA Kishore Tallam (Expert)
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14 April 2012 Definitely every one will suggest to invest only inorder to save taxes. Refer Sec 54F of Income tax act for details of exemption on capital gains of LT capital asset.