i want to calculate long term capital tax on property from where do i do it details purchase value 1000000/- assessment year 2007-2008 sale value rs 4724000/- assessment year 201-2016
please calculate tax approximatetly payable
regards
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Capital tax
Replies (1)
Sale consideration= Rs. 47,24,000/-
Less
indexed cost of acquisition=Rs.19,73,025/- (10,00,000 (1024/519))
LTCG = Rs. 27,50,975/-
Tax @ 20% = Rs. 550,195/-
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