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Long term capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 March 2012 sir,
invested Rs. 20 lacs in house property self occupied in 2006 . Now selling at Rs. 2.25 cr . How to save capital gain tax. thanx
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
25 March 2012 To save the tax you should invest the capital gains in a residential house property before the due date of filing the return.

This property can be either purchased or constructed.

However, if you are unable to invest the amount before the due date, then you have to deposit the amount in a Capital Gain Scheme Account with a nationalised bank.
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CA. Aryendra

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CA. Aryendra (Expert)
25 March 2012 Agree with MR Siddhartha Ji
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Mihir Doshi

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Mihir Doshi (Expert)
26 March 2012 Agree with Mr. Siddharth

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