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How to Save on Capital Gains Tax When Selling Property 🏡💰

Do you know how to avoid paying long-term capital gains tax when selling property? 📉 Here’s how you can save big and reduce your tax burden legally!

What is Capital Gains Tax?
When you sell property at a profit and hold it for over 24 months, you incur long-term capital gains tax. If bought before July 23, 2024, tax rates are 12.5% without indexation or 20% with indexation! 😱 But don’t worry—we’ve got solutions!

1. Section 54F – Reinvest in Property 🏡
Reinvest the profits from the sale into another residential property.
📅 Timing is Key: Buy a new property within 1 year before or 2 years after selling or construct one within 3 years.
💰 You can save up to ₹10 crores from taxes if you own one or no other house at the time of sale!
🔥 Bonus Tip: If your gains are under ₹2 crores, you can claim an exemption for two houses!

2. Section 54EC – Invest in Bonds 📈
Not interested in buying more property? No problem!
Invest up to ₹50 lakhs in government bonds within 6 months of selling.
🔒 These bonds have a 5-year lock-in period. You and your co-owner can together invest ₹1 crore.

3. Pro Tip – CGAS (Capital Gains Account Scheme) 🏦
Not ready to reinvest? Use CGAS to defer taxes until you're ready to invest!
🚀 This gives you more time to plan your next move!

Conclusion – Save Big on Taxes ✅
These strategies can save you millions in taxes! But always consult a tax expert before making any moves.

💬 Got questions? Drop them in the comments or read the caption for more details!

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