i want to sell my land and want to transfer amount to my account directly and now i am worrying about income tax cause i am not liable to pay any tax according to my salary.
can anyone suggest something ?
If you earn profit over the sale of land, you are liable to pay tax over the gain.
But if the period of holding be more than 2 years, you can save tax by cost indexation (inflation factor)........ and exemption by investment of the sell proceeds into some specified bonds u/s. 54EC like NHAI, REC etc.
CAclubindia
