Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 October 2012
what is the Capital gain tax on sale of land and building of industrial unit ? and what are the exemptions that can be claimed ?
Sunny Sonwal
(Expert)
17 October 2012
Calculation of Capital Gains
Full value of consideration
Less: cost of acquisition
Less: expenditure incurred wholly and exclusively in connection with such transfer
Less: indexed cost of improvement
Less: Exemption(s) available, if any.
Calculate
The balancing amount is long-term capital gain
Capital Gain Tax charged on the the above calculated gain at the rate of 15% or 20 %.
One can claim from section 54,54F and etc...
Full value of consideration
Less: cost of acquisition
Less: expenditure incurred wholly and exclusively in connection with such transfer
Less: indexed cost of improvement
Less: Exemption(s) available, if any.
Calculate
The balancing amount is long-term capital gain
Capital Gain Tax charged on the the above calculated gain at the rate of 15% or 20 %.
One can claim from section 54,54F and etc...
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