How to calculate long term capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2012
I purchased a plot in the year Sept.1999 cost of which was Rs.153500/- (including cost of registry) Thereafter, I constructed a residential house over the said plot cost of which was 575000/- + 80000/- being construction of Borewell etc.
Total Cost thus incurred Rs.808500/-. Now I wish to immediately sell the above house and expected realisable cost will be around
22 Lacs. Please advice me how to calculate the LTCG in this regard and rate of tax.
Please do me a favour by replying at an earliest.
Total Cost thus incurred Rs.808500/-. Now I wish to immediately sell the above house and expected realisable cost will be around
22 Lacs. Please advice me how to calculate the LTCG in this regard and rate of tax.
Please do me a favour by replying at an earliest.
26 September 2012
Deduct index cost of acquisition and cost of improvement with indextation and calculate tax @ 20%+3%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
