What bonds should be bought to avoid capital gains on sale of a house?
If you are talking about UK, then have a look at the following link http://www.capitalgainstax.org.uk/ If you are talking about India then If the whole amount or any amount more than capital gain is invested in the long-term specified asset, the entire capital gain is exempt from tax. CAPITAL gain arising from the transfer of a long-term capital asset will be exempt from tax under section 54EC, if the amount of capital gain is invested in the long-term specified asset and upon the fulfilment of various conditions provided in the section. A detailed discussion of the section is given below: Nature of asset transferred: The asset transferred must be a long-term capital asset. Long-term capital asset are those asset that are not short-term capital asset and Short-term capital asset are any share, listed debentures (etc) held for 12 months or less, or any other asset held for 36 months or less. Amount to be invested: To claim
