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

Sunny Sonwal (Expert)
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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...