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.
CAclubindia
