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POSTED BY ON September 27, 2010 9:46 am COMMENTS (2)
Dear ,
Any guy who have a property around cost of Rs 50/-lac and if he/she want to sell his/her property (he/she have other resource for residance) and want to invest the same amount for regular monthly income.
pl.suggest best option?
Now he is working & his tax bracket end of 20%,want to generate a income which can replace his/her salary.also want to save capital gain tax.
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Hopefully the asset was older than 3 years – then only the rules of Long Term will be applicable. In those cases – relief can get by investing in another house (need not be in the same place) – or invest in Bonds (NHAI etc.,) – in these cases return will be very low. Again the investment in the bonds can be a max of Rs. 50lakhs. So, if ones purpose is to get tax relief – they have to choose above, if not full – they can go part to another house and part in bonds as well..
The idea of saving capital gains tax complicates the whole issue .If one already has the property and wants to save capital gains , the only way is to let the property on rent, but that will fetch less returns (unless its a commerical property in place like Mumbai) , but it would also appreciate in value .
However if you sell the property , the only way to save the tax would be to either invest in abother real estate which kills the purpose , or invest in REC, NHAI bonds which again will save the tax but wont generate enough income .
Manish