Query By - Sanjeev | Dubai | 12/12/2012
Without knowing the exact date of purchase and sale, it is not possible to accurately compute the long term capital gain. However, based on the data provided, your approximate long term capital gains would be around Rs. 16 lakh on which the tax @20% would be around Rs. 3.2 lakh. You can save this tax by investing the amount of capital gain (Rs. 16 lakh) in ---
i) purchasing another residential property; Or
ii) purchase capital gains related Bonds of REC or NHAI.