Sale of land by senior citizen
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2014
Hi
My father is 78 years old and has sold his plot owned for about 40 years. He also owns a house.
Could you please let me know the options for saving long term capital gain tax apart from buying or construction of house?
Thanks
My father is 78 years old and has sold his plot owned for about 40 years. He also owns a house.
Could you please let me know the options for saving long term capital gain tax apart from buying or construction of house?
Thanks
13 September 2014
You can invest in 54 EC bonds i.e., NHAI or REC . It had lock in period of 3 year . You receive the interest twice a year i.e., July and in December month.
Interest rate will be 6.5%.
Interest rate will be 6.5%.
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2014
Thanks for the response.
But isn't there a limit of Rs 50 lakhs for the deposit amount? Is there any additional benefit for senior citizens?
But isn't there a limit of Rs 50 lakhs for the deposit amount? Is there any additional benefit for senior citizens?
13 September 2014
Yes 50 Lakhs limit. No extra benefit for senior citizen
14 September 2014
He can buy or construct one house u/s 54F.
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