Shreyaa Kapoor Instagram – Did you know you can avoid paying taxes on the sale of your residential property? 🌱
One of the most popular ways to save tax on the sale of residential property is to reinvest the capital gains in another residential property. 🌟
To qualify for this exemption under Section 54 of the Income Tax Act, 1961, you will need to purchase a new property either one year before or two years after the sale. 🙌🏼
Alternatively, if you construct a new property within three years after the sale you can still apply for the exemption.🙏🏼
This is one of many ways you can LEGALLY avoid paying any taxes on capital gains – will share other ways too, soon! 🎉
Till then make sure you share this with your friends to help them avoid taxes this season and follow along, if you haven’t already! 🫡
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[property, real estate, Shreyaa Kapoor, taxation, tax, tax tips, capital gains tax, house, property tax] | Posted on 02/Jan/2024 20:00:10
