I got a property from in heritage and sold it to another. So now question is how I calculate the income tax liability for this concern. I received Rs. 500000.00 by cheque for that. so please suggest me
1 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 15 February 2019
What is the year of purchase and sold property ?. If purchase was before 2001 then you will have to find out value of property in 2001 from registered valuer . for calculation of ( long term capital Gain ) income tax
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