RESPECTED ALL MEMBERS
ONE LAND SALE IN 2019 DEC MONTH IN 1323000
COST PRICE IS 23000
AND PURCHASE JAN MONTH 89600
SO WHICH AMOUNT DEPOSITE TO CAPITAL GAIN SCHEME.
and HOWMANY TAX PAYBLE.
PLEASE HELP ME
4 Replies
Roshni
(Studwnt)
(1141 Points)
Replied 05 February 2020
Which year did you purchase ? and which year did yous sell. any improvement were made to the property?if yes in which year.
Roshni
(Studwnt)
(1141 Points)
Replied 05 February 2020
1320000-(23000*289/100)(if you have Fair market value as on 1/4/2001 then replace 23000 with that.) capital gain amount 1253530. you can invest this amount in bonds and no need to pay tax. but bond investment will be locked in for 5 yrs.
DILIP CHINTALWAR
(2 Points)
Replied 06 February 2020
Built house purchased in Feb 2018 for RS.3500000 and sold in Jan 2020 for Rs.3870000. How much capital gains to be there
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