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Mihir Tanna  |1112 Answers  |Ask -

Tax Expert - Answered on Mar 10, 2026

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Asked by Anonymous - Dec 07, 2025Hindi
Money

I parched plot 280 square yards in 20/8/2015 in total Rs. 14 lakh. Stamp duty was 98000/ paid. 1.out of 280 square yards I sold 133 yards on 19/7/2025 of Rs. 36 lakh 2. I again sold 120 square yards on 1/12/2025 of Rs. 22 lakh. For save my Long term capitals gain in these manner is proper......? 1st sell 1. Parche flat of Rs. 38 lakh. 2nd sell 2. Parche 54 ec bonds total amount of long term capitals gain Or Pay Long term capitals gain tax . Please advise...

Ans: I understand that plot was purchased in 5000 per sq. and now you are selling it for 27068 per sq.

You need to invest entire 36 lakhs in new house property. If you are planning to construct new house, you need to invest entire gain amount in new property within 3 years (in case of purchase, you can buy in 2 years).

Amount to invest should be without indexation and unutilised amount should be kept in capital gain scheme account with bank before due date of filing ITR.

You should not have more than 1 house on the date of sale of plot.
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.
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