28 November 2015
A ancestral plot of land owned by father (Now expired) is to be sold by me for approx. 50.00 lac.My mother is alive. How to treat the above in Income tax ?
28 November 2015
You have to work our the indexed cost and reduce it from the sale value to workout LTCG. Either you can pay 20% capital gain tax or claim exemption on investment/deposit u/s 54F/54EC.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
06 December 2015
How to arrive at cost of the said ancestral land ?