Calculate Income Tax on sale of property

pnarain · Post by **pnarain** » Sun Mar 23, 2008 9:08 pm

Dear Friends,

We have witnessed a frenzy of real estate activity in the recent past.

Posted here is a brief on tax calulation on sale of real estate

Let us check if we are laible for taxes and possibly plan by choosing the invetment options.

All the best.

Pradeep Narain

Indian.Sam · Post by **Indian.Sam** » Tue Mar 25, 2008 8:05 pm

Good detailed article, I have two questions on this article

d) Investment in certain Bonds. [Sec.54 EC]; Bonds issued by the National Highways Authority of India or by the Rural Electrification Corporation Ltd.

How long should one invest in this scheme before one can get tax exemption?

c) Investment in residential House on sale of ANY property including plots. [Sec. 54 F].

Can the money be used to purchase and build a house ?

pnarain · Post by **pnarain** » Sat Mar 29, 2008 1:17 pm

1 You have to invest for three years. Maximum investment permissible is Rs 50 lakhs. 2 You can puchase a house with in two years or construct a house within three years.Pradeep Narain

ILuvHyd · Post by **ILuvHyd** » Sat Mar 29, 2008 7:31 pm

Also check this thread where these issues have been discussed How to minimize capital gain on Indian Real Estate?