Dear Sir, Thanks a lot for your quick response. My further query is that suppose I purchase a plot and am not able to construct within 3 yrs, then can I pay tax after 3 yrs. If yes, how much interest will I have to bear? Regards, Sunil.
1 Answers
In case you are not able to construct a house, you would have to pay income tax on capital gains. Tax rate would be same 20% after indexation. Income tax on interest would also be payable for capital gain scheme accounts.
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