Gain can be Short Term or Long Term
STCG = If sold within 24 months
LTCG = If sold after 24 months
STCG Tax = As per slab rates
No exemption available on STCG tax
LTCG Tax = 20% with indexation benefit
2 ways to save LTCG tax Invest in other residential property
Condition 1 - Invest within 2 years after or 1 year prior
Condition 2 - Can invest only in 1 property
Condition 3 - Can not sell this property for next 3 years Deposit LTCG amount in Capital Gains account before filing your returns
2. Invest in Specified Bonds NHAI bonds or REC Bonds
Condition 1 - Invest within 6 months
Condition 2 - Max investment allowed is 50 lacs
Start e-Filing Fill in the details and our Income Tax Filing experts will get in touch with you. Hassle-Free Online ITR Filing with Fintoo! visit - https://bit.ly/3gUwIS3
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