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Saving capital gains tax on sale of land

Tax planning 304 views 1 replies

Capital Gains Tax on Sale of Land can be saved by 

  1. purchase of house
  2. investing in capital gains account scheme
  3. investing in capital gain bonds

Now if i have sold my plot of land for 10 lacs can I invest partially in capital gain bonds say like 5lacs and pay ltcg tax on remaining 5lacs or is it like if i invest in capital gain bonds then I have to invest all my sale proceeds from the plot of land which is 10 lacs to be eligible for tax exemption.

 

Replies (1)
In case Short Term ( 3yrs) u will not able to calim any exemption

In case long term (more than 3 yrs.)
u will definately eligible for claiming exemption u/s 54F , 54EC , and investing in CG a/c

Max. limit under investing in bonds is 50lakh


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