21 February 2015
Need help I had sold a flat worth Rs 2 crores and deposited rs 1.5 crores in CGDS u/s 54 which includes rs 1.3crores which is profit from sale of flat and remaining is my own investment into dat... Now after approx 6months I feel dat I don't want buy any flat and want to invest in shares that amount... to withdraw that amount I had made an application to a ITO for withdrawal of such amount from Bank so now on which amount I had to pay tax @ 20%
21 February 2015
You have to pay 20% tax on long term capital gain. The long term capital gain has to be calculated by deducting indexed cost from sale proceeds.
CAclubindia
