28 September 2013
for example,if A bought a land in 2005 for 20 lakh , then A build an house in that land and sale his house for 70 lakh in 2013 . i need to know how much amount A need to pay to income tax? i want to know the calculation also?
29 September 2013
same treatment given by Mr. Aryan then, you can go for exemption claim u/s 54 also. then all tax on Long term capital gain will be exempt if condition fulfill as per section define.
08 October 2013
In which year the house was constructed is missing as a house cannot be constructed immediately it takes some time and date matters. Basing on the year given by you the LTCG will be applicable.
CAclubindia
