d.s.handa
Feb 14, 2011, 05:45 AM
My father has sold his plot in FY 2010-11 which he had purchased in the year 1983-84. The Capital gains is Rs. 4 Lakh 75 thousand. My questions are:-1). Is investment in Rural electrification bonds the right option to save tax on capital gains ; 2). What if he invests the total proceeds he received from the sale of his plot into REC bonds instead of investing the Capital gains only ?; 3). Which Income tax form to fill while filing the IT returns in india for this year?; 4). Is it important to show the calculation of capital gains while filing IT returns ie: does he have to show the computation of capital gains in some attachement form?