chaitanya (ceo) (176 Points)
25 February 2015
shikhar
(LEARNER )
(1394 Points)
Replied 25 February 2015
Hello Chaitanya ji,
As per your question their is approx capital gain of 1 cr.
you can invest in NHAI/ REC bond to save capital gain up to 50 lakh in one financial year, These bond comes in market for short period. contact bank or broking house for this.
Thanks
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 25 February 2015
Hello,
As you said, sale consideration is 3 cr and indexed cost of acquisition is 2 cr approx. Then capital gain will be Rs 1 crore.
To save tax on Rs 1 cr, you can invest Rs 50 lakhs in REC or NHAI bonds
or
you can purchase new residential property within 2 years or construct new residential property within 3 years
or
you can invest in both
CAclubindia
