Capital Gains on sale of residential property, Income Tax

[ANAND SHARMA]

If a person sell his residential property which old and self made and from the proceeds of the same purchased a new commercial cum residential (mix land used built up) property. whether he has to pay the capital gains and how much. Require any option to save the capital gains.

Posts / Replies

[Rajender Gupta]

Yes your question is very general

In your case difference between purchase cost and sale price is capital gain. You can claim cost of indexation in your cost. Yes there are chances you can save capital gain tax by investing in certain bond under section 54ec of income tax act