Hello Friends,
I have constructed a house in the year 1990/- Rs. 5,00,000/-
Sold the house(Possession) in the year May 2017 Rs. 26,00,000/-
Kindly calculate Income Tax for the FY 2017-18..
Menu
Capital gain. sold my house
Replies (3)
Get cost of house from Government approved valuer as on 01.04.2001!!
For example:-
Government give the value as on 01.01.2001 is Rs. 4,00,000/- please calculate it.
It is unjustifiable. The valuer would estimate it to about 11 to 12 lakhs.
The cost index ratio of 2017-18 to 2001-02 would be approximately 2.5 to 2.8
Finally the indexed cost of the house would be almost same or higher than the sell price..............means no capital gains..........no tax.
Recent Topic
- NRI JUST RETURNED TO INDIA BUT HAVING SOME MONTH O
- LTCG should i pay or amc pay?
- Delay Condonation Order Not Received
- Input on Property Dealer Commission paid
- Caliber Mining & Logistics IPO Allotment Date,
- Single form 121 for mutiple interest income from B
- Reabte 87A new regeim for FY 2025-26 (AY2026-27)
- OTP ENTERED BUT NOT PROCESS THE RETURN
- Form 16 Includes Salary Recovered Towards Notice P
- Altera INTC
Related Topics
CAclubindia
