How to save Capital Gain tax on the sale of house property..

This query is : Resolved

gurdeep singh (Querist)
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28 April 2018 I have sold my house for 90 lakh .. what are tax implication and how much tds I need to deduct and how to save capital gain ..

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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29 April 2018 Gain on sale is taxable.
To save tax -
+ buy/construct another house and or
+ invest in capital gains bonds.

Ps:- subject to the conditions in the Income tax Act.1961.

sanjeev kumar goel

sanjeev kumar goel (Expert)
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29 April 2018 Dear Gurdeep Singh as you have sold your house for 90 lakhs so you have no liability to deduct TDS. The purchaser will deduct TDS on your sale connsideration and will deposit in government account. For saving capital gain first of all you have to check that you are gaining short term or long term capital gain. For short term gain there is no option to save capital gain tax but for Long term gain you can purchase a new house property with in two years of sale or construct a house property or can invest in capital gain tax saving bonds.

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