Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Vivek

Vivek Lala  | Answer  |Ask -

Tax, MF Expert - Answered on Jun 26, 2023

Vivek Lala has been working as a tax planner since 2018. His expertise lies in making personalised tax budgets and tax forecasts for individuals. As a tax advisor, he takes pride in simplifying tax complications for his clients using simple, easy-to-understand language.
Lala cleared his chartered accountancy exam in 2018 and completed his articleship with Chaturvedi and Shah. ... more
Mohit Question by Mohit on Jun 09, 2023Hindi
Listen
Money

i bought a flat for 47 lakhs in 2009 and sold it for 73 Lakhs in 2023, i plan to invest the entire sales proceeds in buying a new property, will i be liable to pay Capital gain tax? how should i park the funds till the time i identify a new property?

Ans: Hello, no CG tax will be applicable in this case. You can keep the money in your account till Financial year end, if you still can't finalize a house till that time then you should park that money in CG account in the bank. The duration of buying a new property has certain time limits, go through the rules to avoid any tax liabilities
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
Money

You may like to see similar questions and answers below

Latest Questions
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x