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If you sell any capital asset such as stocks, mutual funds, property - taxes come along with it! 🫠

But there are ways using which you can avoid paying any taxes on the sale of shares and mutual funds, just like sale of property (as shared in an earlier reel)🙌🏼

Under section 54F of the Income tax Act - if you sell the stocks and mutual funds to reinvest the sale amount in property - you will have to pay 0 taxes on long term capital gains made in the stock market!🌟

From 1st April 2023, the maximum deduction available under Section 54F is up to Rs. 10 crores.🌱
Here are a few more things to keep in mind:
-The assessee must not own more than one house. 🙌🏼
-The house must be purchased within one year before or two years after the date at which such capital asset is sold. 🫡
-If the house is being constructed, the construction must be completed within 3 years from the sale of such a capital asset.🙏🏼
-The house must not be sold within 3 years; else, the exemption will be withdrawn.🫡

Share this with your friends who made a solid profit in the markets this FY as a reminder to save taxes!🎉
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