Sale of plot & capital gain

 

pls guide my mother purchased a plot in 1993 for fifty thousand from saving doing household work ,now due to some financial problem and unavoidable circumstances she is ready to sell for about 8 lacs,what would be the tax liability like,she doesnot have a pan card also

pls explain and how to re invest or use the money.

Replies (1)

Sale value Rs. 800,000/-

Less cost of acquisition - Rs. 50,000/-

indexed cost of acquisition - 939/244 x 50,000 = 192,418/-

Long term capital gain = Rs.800,000 - 192,418 = 607,582/-

Long term capital gain tax = Rs. 607582 x 0.2036 = 123,704/-

She has to invest Rs. 607,582 to avoid paying any tax.

If she does not, then the tax payable shall be Rs. 123,704/-

She can invest in another property or buy infra bonds.

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