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mohsin ansari (electrical officer)     25 March 2012

Flat sold to buy another, how to save tax

we have sold our flat at mira road for 26 lac which was bought for around 6 lac in 2000 but thru a loan,,which is now been closed, now we are using that money to buy a new house at grant road for 37lac but that is not considered a flat (i think not sure )though it is in an old building, but the toilet is a common one on all the floors, now how much tax do i need to pay for that, and if possible how should i save the tax, kindly advise



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