Capital gan tex on property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2012
Dear member
i am working in a proprietorship firm, we purchased a property in 2008-09 in the name of propiertorbut booked in books as fixed assets, now we sold the same in 2011-12 and amt deposited in propritor personal a\c. in the same time we have purchase new property
now pls adice have we to pay capital gain tax
i am working in a proprietorship firm, we purchased a property in 2008-09 in the name of propiertorbut booked in books as fixed assets, now we sold the same in 2011-12 and amt deposited in propritor personal a\c. in the same time we have purchase new property
now pls adice have we to pay capital gain tax
07 June 2012
if you hold that property for 36 months? and what is the capital gain amount? how much you invested in new property? what kind of property is it?
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2012
SIR
PROPERTY PURCHASE ON 07.02.2007 FOR RS. 575000 AND SOLD IT ON 16.5.11 FOR RS. 2200000
CAPITAL GAIN IS RS. 1625000.00 WE ARE PURCHASED A HOUSE FOR 2 AND 3 CRORE
PROPERTY PURCHASE ON 07.02.2007 FOR RS. 575000 AND SOLD IT ON 16.5.11 FOR RS. 2200000
CAPITAL GAIN IS RS. 1625000.00 WE ARE PURCHASED A HOUSE FOR 2 AND 3 CRORE
09 June 2012
assuming first property was also residential house you can avail the exemption u/s 54
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