Cap Gains Tax on sale of Property by HUF

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  1. Mayur Kabra

    Mayur Kabra New Member

    Hello..
    I am thinking to sell property which belong to my HUF in which I hav problem understanding my tax liability so need a lil help from experts

    The property would pay me 80lacks from which I was thinking to invest 50lk in government bond which is d maximum limit to say tax which I will be paid interest @6%
    Problem with the extra 30lk which I need in cash can jot invest in house property so how will be tax paid on this amount..

    Also induction cost will also be dectuded in it but tht will be very less as its very old property..

    Help me out here on what should I do 30lk extra after investing 50lk in government bonds..

    Thankyou
     
    Mayur Kabra, May 6, 2015
    #1
  2. Manoj Mehra

    Manoj Mehra Active Member

    If it is a residential house, you dont have to re-invest all the sale proceeds but only have to reinvest the Capital Gains arising on sale.
     
    Manoj Mehra, May 6, 2015
    #2
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