capital gain tax

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  1. Ramakrishna Rapeti

    Ramakrishna Rapeti New Member

    Dear all,.
    i have sold my flat,. now i want to avoid capital gain tax,. apart from buying a new house.
    can i invest in my business in starting new company ,. where in i have to buy machinery which is a long term capital .

    let me know your opinion.
    regards
    ramakrishna
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    To claim capital gains exemption - either you have to invest in a Residential House Property or in Capital Gains Bonds.

    If you invest anywhere else like business to buy machine etc - then capital gains exemption cannot be claimed and you would be required to pay Capital Gains Tax @ 20%
     
    sethupathy likes this.
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