Capital gain

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Sandeep (Querist)
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27 September 2012 If Person have Non Agriculture Land Cost is 41000/- on July'06 & he sell this land on Aug'11 @ 180000/- how much capital gain he has to paid today ?

Pankaj Gupta

Pankaj Gupta (Expert)
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27 September 2012 calculation of capital gain....

sale price 180000
less:indexed cost (62013)
-------
Long Term Capital Gain 117987

tax on capital gain @ 20% + 3% education cess. ie 24305.

But such tax should have been deposited upto 31st march 2012. Hence interest @ 1% per month is also required to be paid on such tax.

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Sandeep

Sandeep (Querist)
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28 September 2012 Dear Sir, Thanks for Information

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