Sushmita (Finance Officer) (142 Points)
18 April 2011My client had a long term capital gain of Rs. 44 lacs (after adjusting indexed purchase value - Rs.3 lacs) from sale of plot. The sale is made on 14th of march.
He does not want to reinvest the same in any property or land. Other than tax-saving bonds which give interest rate at 6%, Can you suggest me the higher earning options??
Thanks in advance.
CA Vishwas Aradhya
(Consultant)
(60 Points)
Replied 18 April 2011
Sushmita,
If capital gains exemption is sought, then relief is provided only under sections 54 to 54GA. these sections prescribe either to reinvest in property or invest in exemption bonds ( in view of facts of the case).
Any other suggestions from viewers are welcomed.
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CA Vishwas Aradhya | +95913 18000
Bangalore
Sushmita
(Finance Officer)
(142 Points)
Replied 20 April 2011
yaa that I Know but I want to know which bonds pays highest??
CAclubindia
