News > Startup founders buy super luxury homes to cut LTCG tax

Startup founders buy super luxury homes to cut LTCG tax

04/09/2022 07:46 PM | Click to read full article

Startup founders and company promoters looking to save on taxes have emerged as the main buyers of super luxury real estate properties after selling shares or stakes in their companies, said representatives of international brokerage firms.

Long-term capital gains from the transfer of equity shares (listed and non-listed) or from stake sales in a startup can be avoided under section 54F of the Income Tax Act, 1961, if the gains are invested inĀ in residential property.

-