Lawful tax avoidance on revenue from landsale

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Sahina (Querist)
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25 March 2018 Sir, My mother got Rs.39Lakhs from sale of land in her name before 6months. Full amount is shown in agreement stamp paper(as the purchaser had taken a loan for this purpose) As per our purchase agreement of this land before 5-6years..the price was Rs.4Lakhs. 1.When to pay the tax & how much would be the tax? 2.What to do with the proceeds for a perfect lawful tax avoidance? Any bonds or something like that? 3.Any GST compliance in this transaction? 4.she didn't file any returns till now. Whether she is needed to pay tax; if yes,where&how?

ALKESH T MEHTA

ALKESH T MEHTA (Expert)
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26 March 2018 There is only way to save tax is to invest in Sec.54 EC bonds & hurry up to take advantage before 31st March,2018.

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