Long term capital gain

This query is : Resolved

Patel (Querist)
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11 June 2012 Hello Experts,

kindly advise capital gain liability & ways to save tax if any

- Industrail Gala Purchased in financial year 06-07 for RS.360665/- & same is sold in financial year 11-12 for Rs.15,00,000/-

thnks

Ca Anand Dubey

Ca Anand Dubey (Expert)
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12 June 2012 The property is commercial ,if its depreciable then you could have saved tax by buying a new property of same nature up to the amount of capital gain.

or

If not depreciable then Long term capital gain will apply and you can avail exemption u/s54f

Patel

Patel (Querist)
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13 June 2012 what will be capital gain amount

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