Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2016 Please give your vaueable advice :
I have purchased a Land :
DATE OF PURCHASE : 11-05-2012 AT RS. 19000/-

DATE OF SALE : 29-04-2015 AT RS. 3,76,500/-

What will be my Tax on such sale, Please tell me what amount I have to pay as a Capital Gain tax.
Thanking You.

Prakash Kochar

Prakash Kochar (Expert)
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06 June 2016 Land is sold before completion of 36 month from date of purchase therefore it is short term capital gain.
Income from short term capital gain along with income under other income heads will be treated as income liable for tax at regular rate, applicable in your case after considering allowable deduction u/s. 80.

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2016 Sorry Sir But i have no other income or any duduction u/s 80c, what will be the tax what amount to pay under head tax.

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Querist : Anonymous

Querist : Anonymous (Querist)

10 June 2016 Any one there please tell me what will be my Tax on sale of Land given above on my querry and in which form the return will be filed.