i have a land in Sriperumbudur at nemili park.It is located near by rajiv gandhi college of eng.We bought it at 2007 at the cost of Rs 100 per sq ft .does the price increase now if so how much is the recent price.
now Rs.350 /sq ft
The indexed value of flat sale price on which tax is payable, comes to Rs.1600000. I want to invest about 10 lakhs in real estate and pay capital gains tax of 20% on balance 600000. Can I do this?
I do not believe that India has any rules allowing the avoidance or deferral of capital gains taxes on the sale of real estate, by fully or partially reinvesting the proceeds of that sale. However, here are some website with link to various sections of the Indian tax code, that may help you answer your questions:
http://nri-realestate.blogspot.com/2007/06/nri-queries-related-to-tax-rules.html
http://economictimes.indiatimes.com/opinion/policy/Direct-Taxes-Code-Capital-gains-tax-is-investor-friendly/articleshow/6477547.cms
http://indianblogger.com/income-tax-on-capital-gains/