Capital gain

Rupesh Soni (Taxation Consultant & CA final student)   (493 Points)

27 December 2015  

I  AM TENET IN RENTED HOME SINCE 2000 I GOT  20 00 000 RS FROM BUYER MR X  OF HOME & OWNER GOT 5000000 RS FROM BUYER MR X

MY QUE IS TENENT IS LIABLE TO PAY CAPITAL GAIN 20% ON 20LAKH? AS HE IS NOT OWNER OF HOUSE 

IF YES THE WHAT IS COST OF BUYING OF HOME AS HOUSE IS ON RENT