capital gain

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Rakesh Sharma (Querist)
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14 August 2016 I purchased a plot in year 2003 for 80000 and in 2007 I got it constructed for 150000 now if I sale it for 2000000 what will b the capital gain to b taxed in ay 17 18 and at what amount of sale there will b no capital gain tax when dlc rate of land is 600000

Amol S Joglekar

Amol S Joglekar (Expert)
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15 August 2016 The actual consideration or the stamp duty value, whichever is more shall be the full value of consideration.

Rakesh Sharma

Rakesh Sharma (Querist)
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15 August 2016 if I sale it for 600000 then what will b the tax liability n can

Rakesh Sharma

Rakesh Sharma (Querist)
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15 August 2016 n can I take deduction of indexed cost of improvements

Amol S Joglekar

Amol S Joglekar (Expert)
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15 August 2016 actual price OR stamp duty valuation which ever is greater shall be deemed to be the full value of consideration......Section 50C
Cost of improvement shall also be indexed

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