06 July 2009
I have purchased a plot 10 year back in 1999 at Rs 2.5 lac and sold it in 2009 at a cost of 12.60 lac what is my capital gain secondly how much to be invested in bonds Which is the best bond as regards to interest. Is Interest is taxfree. Is there any rebate on senior citizen as regards to capital gian.
06 July 2009
Sale value 1,260,000 Indexed cost 385,604 (250000 / 389 (Index of 1999-00) * 600 (index of 2009 - 10 (not notified, assumed)) Capital Gain 874,396
Rs. 875,000/- to be invested in bonds - REC or NHAI. Interest on bonds taxable.
No rebate for senior citizen except for basic exemption
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