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House Property Capital Gain
If a person buy a house in 2008 at 60000/- and sold it in 2018 at 800000/- and purchase new house of 1000000/- in same year. Does capital gain arise ? if arise,how to calculate it ?
Replies (1)
capital gain does arise.
CG will be 800000 less indexed value of original cost 60000
CG is exempt under 54 since buying new house
CG will be 800000 less indexed value of original cost 60000
CG is exempt under 54 since buying new house
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