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How can we save tax on selling a plot?- Property Hotline
Posted
December 15, 2016
Views
569
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December 15, 2016
569
5
0.88%
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1:14Now PlayingExpert: Vinay Singh, Legal and Tax Expert.
Question: Can you suggest way to save tax for plot sale (currently taken bank loan) in 2017 considering the current political scenario.
Answer: On the assumption that this is long term you will be entitled to tax benefits. If you invest upto Rs 50 lakhs in bonds or if you use those proceeds to buy a residential property then you will be able to tax benefit. But if you don’t do either of these there entire capital gains will become taxable.
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