Capital gain

This query is : Resolved

swapnilrahane (Querist)
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28 May 2012 I had Purchase Plot on JAN-2006 @ Rs.67000
& Sold Plot on MAY-2011 @ Rs.181000

On the above data I Calculate Capital Gain is Rs.15486

what can I do to save this Tax amount.

CA Dileep Surya Kumar

CA Dileep Surya Kumar (Expert)
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28 May 2012 OPTION 1.Acquiring a new residential house.

CONDITIONS:) you have to acquire new house with in 1 year before or 2 years after from the date of trnasfer.

2.construct a residential house within 3 from the date of the transfer of the original house. (Construction must be completed within these 3 years.)

3.The new house property purchased or constructed has not been transferred within a period of three years from the date of purchase or construction.

OPTION 2:purchase of Bond of NHAI /REC with in 6 months from the date of tranfer.

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