Text: Tax on sold plot I purchased a house in 1991 in Agra for Rs 3 lakh and sold it in May this year for Rs 26.5 lakh. What will be the tax liability for capital gains and what is the time limit for tax payment? After tax payment, can I transfer this money to my son’s account who is studying in Australia? If I purchase a new house from this money can I escape from capital gains tax? Nirmal Kumar Jain Long-term capital gains tax (as the house...
Full Story: The Times of India
