Capital gain on property sale
This query is : Open
19 December 2012
Respected All, My Uncle purchase a land from HUDA in Gurgaon on 21-05-1993(conv. deed ad allotment date) Of Rs. 210719 , on 26-11-1996 he has paid Rs. 26375 for registration fees. After that he has constructed 484 sq feet area on that plot and completion certificate took on 09-11-1998. he dont have the construction bills so dont know the construction value.
Now He has sold the house in nov 2012 of Rs. 1,80,00,000/-.
Now how can i calculate house construction value or what is the procedure? and what is the amount of Capital Gain, how it calculate ?
Thanks in advance to all.
Now He has sold the house in nov 2012 of Rs. 1,80,00,000/-.
Now how can i calculate house construction value or what is the procedure? and what is the amount of Capital Gain, how it calculate ?
Thanks in advance to all.
19 December 2012
the capital gain shall be chargeable in the hands of your uncle.
21 December 2012
Pls explain how can i calculate the construction value without supporting bill ? Whether i reuire goverment valuer or any other way to calculte the same?
22 December 2012
you have to engage an incometax registered valuer to ascertain the value of construction.
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