Dear Experts,
I sold my house in July 2016 for 1 Crores and the Capital Gain computation turned out to be 32,50,000/= (by an Auditor I consulted that time) and have the indexation workings with me.
In January 2016 I deposited the sum (32,50,000/=) to Capital Gains Deposit Account in a nationalized bank.
Ever since I haven't bought a residential apartment or property yet. By this, I assume I'll need to pay 20% tax on LTCG by JUly 2019.
Is there a way to legally avoid paying this tax.. such as by reinvesting in NH bond or any other means?
What are my options available now? (other than having buy an individual house by July 2019)
Thanks.
CAclubindia
