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Capital Gains tax Exemptions On Reinvestment

NRIs are entitled to claim exemption from the tax if they reinvest long term capital gains /net sale consideration into following assets.

LONG TERM ASSET SOLD	REINVESTMENT IN	CONDITIONS	AMOUNT TO BE INVESTED
All long term capital asset	Tax saving bond issued by a. National Highways Authority of India b. Rural Electrification Corporation Ltd ( REC)	1) Investment is to be made within Six months from the date of transfer of asset 2) New asset is to be held for a period of 3 years. 3) You cannot borrow against security of these bonds	Amount equivalent to Capital Gains or Rs. 50 lakhs whichever is less.
Urban Agricultural land	An agricultural Land	There are many conditions, which shall be provided at request.	Amount Equivalent to Capital Gains
Any long term capital asset other than residential house	Single residential house in India	There are many conditions, which shall be provided at request.	Amount equivalent to Net Sales consideration
Residential house	Single residential house in India	There are many conditions, which shall be provided at request.	Amount equivalent to Capital Gains
Residential house or plot of land	Equity share of new eligible Indian company	There are many conditions, which shall be provided at request.	Long Term Capital Gains in proportion of amount re-invested over Net Sales consideration

TDS provisions and tax liability on gains from transfer of Immovable property

Type of Gain	Rate of TDS	Rate of Tax
Long Term	20%* on amount of Sales Consideration	20%* on amount of Capital Gains
Short Term	30%* on amount of Sales Consideration	Slab Rate* for amount of capital gains

Plus applicable surcharge and cess -- by A M B JAIN & CO.

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