Abhijit Ghosh (.) (618 Points)
25 July 2012One of my client sold one of his land possesed before 10 years, his advisor advices that he has the only option to invest in REC like bonds to save his LTCG.
My question is whether it is possible to pay LTCG tax by paying @ 20% (with indexation benefit) and avoiding investment in REC like bonds, so that he can use the sale proceeds with his own choice.
Advance thanks in this regards.
Yajendra Adhikari
(Chartered Accountant)
(334 Points)
Replied 25 July 2012
Of course!! Its your money do whatever you like to do. You can use it in any purposes, if you pay LTCG tax @ 20%.
The conditions to invest in bonds are for exepmtions only.
CAclubindia
