What should one do to avoid paying tax in capital gains?

In order to avoid being liable to pay capital gains tax, an assessee should have either purchased a house within one year of the sale or should do so within two years after the date on which the transfer took place, or construct a house within a period of three years after the date of transfer. In these cases instead of the capital gains being charged to income tax as income of the previous year in which the transfer took place, it will be dealt in accordance with the specified provisions.

Post Author: Terraform Realty