capital gain

This query is : Resolved

Subhashchandra (Querist)
Follow

21 July 2010 Property purchase on 24/10/08 and sold 19/3/10, Purchase value-22,20,000/-Stamp duty-133,220/-registration fee-23,520/- sale value-30,00,000/- stamp duty-1,50,000/- registration fee-30,540/- . i want to know how much capital gain arises.

srinath

srinath (Expert)
Follow

22 July 2010 it is a short term capital gain because the property was held for a period of less than 36 months

capital gain would be sale value - purchase value

ie [30,00,000 - 1,50,000 - 30,540] - [22,20,000 + 133,220 + 23,520] which is equal to 4,42,720