20 August 2023
I bought a flat for 2 million INR in 2014. The flat is sold for 7 million INR in 2023. When filing returns how much I need to pay as tax on LTCG ? To avoid paying tax can I invest the tax gains in purchasing stocks ?
20 August 2023
I don't think by purchasing stocks we can avoid LTCG. Please read the article for computation of taxes https://www.bankbazaar.com/tax/how-to-calculate-capital-gains-tax-on-house-sale.html
21 January 2024
If we include EMI then it will be double accounting here as FLAT Cost of 2M ALREADY includes the total amount payable for the flat purchase