Can I buy plot from the money got by selling stocks to avoid capital gains tax ?

POSTED BY JP ON July 17, 2014 10:45 pm ONE COMMENT

I have a TOTAL stock corpus of 20 lakhs with 10 lakh profit. I wanted to convert stocks to land. What should I do to make capital-gain tax as zero if I sell the total stocks?

Should I buy 10 Lakh worth plot?
Should I buy 20 Lakh worth plot?

One reply on this article “Can I buy plot from the money got by selling stocks to avoid capital gains tax ?”

  1. Ashish Garg says:

    Long/short term capital gains can not be set off by investing the profit in another avenue.

    In case your profit from stock is short term (with investment less than 1 year) than you have to pay tax at a flat rate of 15.45% on profit booked. If it is long term (if invested for more than 12 months), the whole profit made is tax free.

    Ashish

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today