INTEREST ON TAX

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.

asked Aug 20 '11 at 17:27 by sunil 1122


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.

answered Aug 21 '11 at 16:46 by Pankaj Batra 5.2k320

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Asked: Aug 20 '11 at 17:27

Seen: 1,254 times

Last updated: Aug 21 '11 at 16:46