CAPITAL GAIN ON SALE OF COMMERCIAL PROPERTY
This query is : Resolved
22 March 2024
DEAR SIR,
WE HAVE PURCHASED A COMMERCIAL PROPERTY BY RS. 2,50,000/- IN OUR PARTNERSHIP FIRM IN THE YEAR OF 2002.
NOW WE PARTNERS ARE GOING TO SELL THIS PROPERTY BY RS 61,00,000/*
SO EXPERTS ,
PLEASE GUIDE ME ABOUT TAXATION IN CAPITAL GAIN ON SALE OF COMMERCIAL TAX.
WE HAVE PURCHASED A COMMERCIAL PROPERTY BY RS. 2,50,000/- IN OUR PARTNERSHIP FIRM IN THE YEAR OF 2002.
NOW WE PARTNERS ARE GOING TO SELL THIS PROPERTY BY RS 61,00,000/*
SO EXPERTS ,
PLEASE GUIDE ME ABOUT TAXATION IN CAPITAL GAIN ON SALE OF COMMERCIAL TAX.
26 May 2024
For what purpose the land was purchased? Whether it was investment or for construction activity?
08 September 2024
For LTCG over the property will be at 20% with indexation or 12.5% without indexation.
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