Capital Gain (urgent)
This query is : Resolved
25 July 2008
Dear Sir
Plz cal Capital Gain as detail is as follows
Purchase date-18-06-07
Purchase Price-485000
Stamp fees-29100
Puchase Comm-29100
Sale Date-09.01.2008
Sale Price-650000
Stamp fees-45500
Sale Commission-27500
it`s urgent plz help me
thanks
Plz cal Capital Gain as detail is as follows
Purchase date-18-06-07
Purchase Price-485000
Stamp fees-29100
Puchase Comm-29100
Sale Date-09.01.2008
Sale Price-650000
Stamp fees-45500
Sale Commission-27500
it`s urgent plz help me
thanks
25 July 2008
IT IS ASSUMED STAMP DUTY IS PAID BY YOU WHEN SELLING THE ASSETS & SALES PRISE IS STAMP DUTY VALUATION
650000-45500-27500=577000 NET SALES CONSIDERATION
485000+29100+29100=543200 PURCHAE PRISE
NET SHORT TERM CAPITAL GAIN IS RS 33800
IF YOUR INCOME BELOW BASIC LIMIT THEN UPTO THAT LIMT NO TAX IS PAID OTHERWISE STCG IS 15% FOR FY 2008-09
650000-45500-27500=577000 NET SALES CONSIDERATION
485000+29100+29100=543200 PURCHAE PRISE
NET SHORT TERM CAPITAL GAIN IS RS 33800
IF YOUR INCOME BELOW BASIC LIMIT THEN UPTO THAT LIMT NO TAX IS PAID OTHERWISE STCG IS 15% FOR FY 2008-09
25 July 2008
The Short Term Capital Gain as worked out by Mr. Dewani, is correct. The rates of tax will be the normal rates of income tax as per the slab, as the gain is probably from the sale of an asset other than shares.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
