In Jan.2012 i have sold a flat for Rs. 14 L. This flat i had purchased in 1999 for Rs. 3.65 L. I have plan to invest this money. Also in the sale deed the amount mentioned is Rs. 10 L but entire amount of Rs. 14 L was paid to me by way of cheque/dd. pls let me know the how much i have to pay by way of long term capital gain in this case.
17 January 2012
Actually you have to pay capital gain tax on 10.35 lakh(Roughly Compute). But when you file your return of income consider 10 lakh as sales consideration. When scrutiny will come that time problem arise.
CAclubindia
