Capital gain
This query is : Resolved
27 July 2014
Dear Sir
I have purchased an industrial land in rajasthan for Rs 10 lakh from Rajasthan Development Authority. As per terms of payment, i have opted to pay in EMI and i have paid Rs 2 Lakh as interest. The total amount paid is Rs 12 lakh.
Now i have sold the plot at Rs 13 lakh.
Question is:
1. What is the capital gain?
2. What will the treatment of interest paid to rajasthan authority?
I have purchased an industrial land in rajasthan for Rs 10 lakh from Rajasthan Development Authority. As per terms of payment, i have opted to pay in EMI and i have paid Rs 2 Lakh as interest. The total amount paid is Rs 12 lakh.
Now i have sold the plot at Rs 13 lakh.
Question is:
1. What is the capital gain?
2. What will the treatment of interest paid to rajasthan authority?
28 July 2014
for capital gain, you need to compute indexed cost first.
interest paid can be included in the cost.
interest paid can be included in the cost.
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