Capital gain

This query is : Resolved

hitesh (Querist)
Follow

30 July 2013 i have purchase house dated 05/08/1984 cost of rs 115000 and sell on 10/04/2013 sell consideration 1500000 . i dont want to pay tax what is new investment scheme and of what cost

Mihir Doshi

Mihir Doshi (Expert)
Follow

30 July 2013 Dear Hitesh,

In your case LTCG comes around = 636120

You have below mentioned option to save from tax on above mentioned amount:

1. Purchase of new house Section 54 and 54F
2. Investment in Bond of REC under section 54EC

First of all, what is running in your mind is an important question then decide to go ahead to save income tax.

Cost inflation index 1984 - 85: 125
2013-14: 939

Cost inflated value of the property: 863880

Thanks
Mihir Doshi

hitesh

hitesh (Querist)
Follow

30 July 2013 Thanx Mihir

Upgrade to CAclubindia Pro. Subscribe Now!