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Government bond for not paying capital gain?

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Government bond for not paying capital gain?

Last updated: July 25 2014
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  • Government bond for not paying capital gain?

    Hi, requiring help from senior members,

    My brother is a nri who has sold his property in India. As he has gained some money on this transaction the state agent told him that he will need to pay tax unless he reinvest the money in another property. However we think that there should be another solution, because i think that one of our ex-neighbours was also a nri and he reinvested the amount on government bond scheme for 3 years which is considered as paying the tax or reinvesting in a property.

    It this true? If so where can I find more information regarding these bonds?

    Thanks for your help
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