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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! 🫡 
#property #RealEstate #taxation #tax #taxtips #CapitalGainsTax #Houseproperty tax #Money #MoneyMatters #HipiMoney #HipiFinance #HipiFunds 
#FinancialTips #HipiFinance #FinanceonHipi
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