CALCULATION OF INCOME TAX
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 October 2010
I had brought a residential flat in Jan 2007 for Rs 20,00,000/- and now selling(Nov 2010) for Rs 37,00,000/-. I do not want to reinvest the amount in another house but want to use the full amount for starting a business. How much tax will I have to pay in my case in order to use the full amount.I am presently unemployed since Feb 2010.
27 October 2010
You have not mentioned cost of improvement of house, or expenditure of transfer etc.
Long term Capital gain is taxable @ of 20%+ cess.
Long term Capital gain is taxable @ of 20%+ cess.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Long Term Service award taxability in hands of company
- Free lancer income
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- LTCG for Assmt year 26-27
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
