Legal Question in Real Estate Law in India

HI,

I would like to know that if we sell our house say for eg: Rs. 50 Lakh and buy a new house for say Rs. 35 Lakhs, will there be any tax on the remaining amout. If yes what are the ways to save the tax.

I am not all about free consultancy here, if I will get a satisfactory answer I would like to meet you in person and would like to work together with you so that we both have some interest on it.


Asked on 4/09/12, 9:12 am

1 Answer from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

First find out whether it is long term or short term capital gains.

In case of short term capital gains, except deductions under Chapter VI-A, no other deduction may be available.

In case of long term capital gains, you may consider investment in Capital Gain Bonds to save taxes.

Read more
Answered on 4/09/12, 10:25 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in India