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Sir, I had purchased 1 bhk flat in 2008 for 9,10,000 & now in Jan 2012 going for sell at 19,00,000 on the same flat i am having a home loan of 9,90,000 so after selling i will get 10,00,000 inmy hand. Please guide me how to save LTCG tax? I am going to buy agriculture plot 3 guntha at a rate of 4,70,000 per guntha but owner is going to make an agreement of 1,25,000 per guntha so, if i make the same deal then i will be showing the investment on 3,75,000 then please let me know how i can save the tax? ownwer is guided me to give the cheque on his name for the amount other than agreement value to show for land development..... Please guide me how i can tackle this situation...... @ Mukesh Watekar 9823017511 asked Feb 23 '12 at 17:11 by mukeshwatekar 1●1●1●1 |
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Please see below computation for long term gains: To save this income tax fully either you can buy/construct another residential house property for cost more than gain amount (6.73 lakh) or invest the gains into capital gain bonds. There is no tax benefit on paying the home loan or buying a agricultural land or a plot. answered Feb 23 '12 at 19:29 by Pankaj Batra 5.2k●3●20 |