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Capital gains


18 August 2015 Individual
residential house property
sales consideration : Rs.56 lakhs
Stamp duty value : Rs. 64 lakhs
Indexed cost of acquisition : 27.50 lakhs
LTCG Rs.36.50 lakhs.(64-27.50)
new residential house property acquired for Rs.45 lakhs.
does any tax liability arise in this case????

18 August 2015 capital gain to be taxed nil

21 August 2015 any contradicting view??






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