Selling of property after 3 year

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2016 Dear Experts,
If we sell the proprety after 3 year of purchase
then it would be taxable or not......

Plz reply.....

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

04 April 2016 If you Sell Property after 3 Years than it Will Fall under Long Term Capital Gain , Capital Gain to Be arrived From the Indexed cost of Purchase and Sell price , Difference will Be LTCG. The Extent of Gain will be Taxable . i

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2016 Sir... assume there is LTCG of Rs. 100000,
can i purchase other proprety of Rs. 100000
and within how many year..

Upgrade to CAclubindia Pro. Subscribe Now!

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

04 April 2016 In order to claim capital gains to only one unit or residential property, use the CG fund purchase new residential house 1 year before or 2 Years after transfer date.
If investment in construction 3 years from the date transfer of original property.
Or investment within 6 months from the transfer in CG bond specified u/s 54EC. In NHAI or REC bonds with 3 years locking period, maximum 50 lakhs with 6% interest. Interest is taxable

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2016 Sir.. while calculating the CG will i have to
consider property value inclusive registry i
mean inclusive trf cost.. or with out trf cost

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

04 April 2016 You can consider purchase cost including registration cost.

Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2016 Sir.. assume if i get proprety in heritage then
while calculating CG what cost flation index
will be consider....

Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2016 Sir.. assume if i get proprety in heritage then
while calculating CG what cost flation index
will be consider....

Upgrade to CAclubindia Pro. Subscribe Now!