Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2014 My grany purchase 1 plot on 1975 for Rs. 8000.
She want to sold this property for Rs. 4000000
and this Sale consideration amount disribute amongst his sons and daughters... then what is the procedure of Tax at this situation....

then How tax on Capital gain would arise...

Any Tax saving method in this situation...

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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26 March 2014 Assuming your grany sold that plot in F.Y 2013-14 then she has Long term capital gain Loss of Rs.35,120/- means she didn't have any taxable income so there is no tax liability and no need to any tax plannings.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2014 My sale Consideration was Wrong....

New Sale Consideration is 40,00,000/-

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