Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

inherited plot sale how to capital gain

VIKAS KUMAR SHARMA (GST Practioner) (694 Points)

08 July 2019

One of my client sold inherited plot its acquisition value not available how to calculate capital gain
Regards

Reply
Follow
Share

4 Replies

sujithavasa (176 Points)
Replied 08 July 2019

The person who purchased the property before inheritance ,cost which is incurred by that person will be considered as cost of acquisition for computing capital gain of the person who sold the property

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

kajol (Executive) (201 Points)
Replied 08 July 2019

The long term capital gain will be taxed at the rate of 20 % . find the difference between what you paid for your property and how much you sold it for—adjusting for commissions or fees. Depending on your income level, your capital gain will be taxed federally at either 0%, 15% or 20%.