Capital gains

K R Reddy (Querist) 10 October 2014 This query is : Resolved
Dear Professional Experts,

My father sold his urban land, which will attract the tax provisions of Long term Capital gains.

The sale consideration is in huge amounts but we sated in registration documents comparatively less.

So please advise me how to reduce tax burden, without causing any problem to buyer.

And please advise me on TDS matters as well as other provisions which will help to reduce the tax liability.

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malipeddi jaggarao (Expert) 11 October 2014
When the transaction involves huge amounts as stated by you, it is better to engage an Advocate and Tax consultant by paying professional fee and get proper guidance from them.

Rajendra K Goyal (Expert) 11 October 2014
Consult some senior tax consultant.

T. Kalaiselvan, Advocate (Expert) 16 October 2014
As rightly advised by expert Mr. Jagga Rao, it is better to avail the services of a better auditor/CA/consultant in the local and get the issues solved legally and properly.

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