25 February 2012
I HAVE PURCHASED A HOUSED IN 2001 FOR RS.2.5LACS, NOW I HAVE SOLD THE SAME IN 2012 FOR RS.14.30 LACS. PLEASE ADVISE HOW MUCH TAX I HAVE PAY AS LONG TERM CAPITAL GAIN. THANKS IN ADVANCE.
25 February 2012
LTCG= 14.3 - (2.5*812/406) = 14.3 -5 = rs 9.3 lacs tax = 9.3 X 20% = 1.86 lacs note 812 is an assumed figure as the index for year 2012 is not yet notified.
CAclubindia
