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In India, what is the tax free investment for the amount you get by selling House Property?
for example, if you get Rs.15 Lacs as your share of selling your ancestral family house. Where can you invest it to make the full amount and the interest you will earn on it tax-free?
2 Answers
- 7 years agoFavorite Answer
By selling your ancestral family house the amount of profit/gains are called long term capital gains. Long Term Capital Gains are taxed @20% flat rate. To avoid the tax on capital gains one has to buy another house or has to deposit the gains in Capital Gain Bonds for 3 years. So choice is yours. Please read more about it in the website given below. click on the link.
- 7 years ago
you can buy another house from sales money and then it will be exempt.
Source(s): CA
