29 March 2016
Sir, " A" PURCHASE a LAND AREA 1.84 ACRE ON DATED 11/02/2012 of Rs 6.00 Lacs that is not agricultural land,sold 12 dec.of said land on dated15/06/2015 of Rs 14.00 lacs.Shall "A" paid Capital Gain in AY 2015-16,Kindly Reply with calculation
30 March 2016
DEAR LTCG WILL BE SALES PRICE Rs. 1400000/- COST OF ACQUISITION (INDEXED) 6*1081/785 Rs. 826242/- HENCE LTCG IS RS. 573750/- TAX @20% IS TO BE PAID.
05 April 2016
sir "A" sold only 12 Dec. of land on dtd 15/06/2015,so we should be calculated only 12 Dec of land sale not whole of land.How shall we calculate?
05 April 2016
12 DEC.LAND IS RS 14,00,000 OUT OF 1.84 ACRE SOLD ON DTD. 15/06/2015.BALANCE LAND I.E 1.74 LAND IN HIS HAND.CALCULATION THE COST OF ACQ.(INDEXED) ONLY 12 DEC PURCHASE RATE TO BE CONSIDER OR TOTAL 1.84 DEC OF LAND CLARIFY. AS PER MY Cal 600000/184=3261 PER DEC,12 dec of land sold i.e 12*3261=39132 IS THE 12 DEC PURCHASE RATE, LTCC IS 39132*1081/785=53887,SALE PRICE IS 1400000-53887=1346112,hENCE LTCC IS 20% OF 1346112. IS IT CORRECT OR NOT
CAclubindia
