Income tax on sale of house.


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
04 December 2011 My friend is having a Tenament which is purchased by him 20 years back and now he intends to sell it. The sale price would be more than 50 times of the original purchase cost by him and in that case what would be his income tax liability.

If there are any ways and means to restrict his tax liability to the bare minimum extent, the same may also kindly be indicated.

04 December 2011 Your friend may be advised to purchase a beautiful residential house from the amount of Capital Gain he would be getting.

04 December 2011 Your friend can save tax to invest capital gain amount in new house property or NHAI bond or RECL bond u/s 54.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
05 December 2011 Thank u experts. I request more experts to offer comments please.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details