Legal Question in Real Estate Law in India

Respected Sir,

I had sold my residencial plot on 24/06/2010. Till now i have kept the amount in my bank saving account. I am willing to buy a flat & am looking for it. I have also not paid any tax till today. Am i suppose to pay any tax. It so how much. & is there any way i can save my tax.


Asked on 7/22/11, 2:53 am

2 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Depending on period of holding, you may be required to pay short term or long term capital gain tax. Be guided by an expert in the field.

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Answered on 7/22/11, 4:13 am
Sanjay Kalra Sanjay Kalra & Associates

Dont be penny wise and pound foolish, Engage a Chartered Accountant for your tax problem, if any.

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Answered on 7/23/11, 2:15 am


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