Capital Gain
This query is : Resolved
17 December 2009
Suppose a person Purchased a Flat for Rs 323000/- and Purchased a land of Rs 57200 in 1996
He sold flat for rs 25 Lacs and Land for Rs 11 Lacs in 2009
Thereafter he purchased a house of Rs 25 Lacs
What is the Tax Treatment?
He sold flat for rs 25 Lacs and Land for Rs 11 Lacs in 2009
Thereafter he purchased a house of Rs 25 Lacs
What is the Tax Treatment?
17 December 2009
dear sir
first find out capital gain from sale of flat after indexation - work out separatel capital gain from sale of land after indexation - now as per law u'll have to invest Net consideration from land and only capital gain from flat in a new house
suppose the gain from flat is only 10 lakhs and net cosideration from land is 12 laks then it will be Ok - now u'll be in a position to complete the computation .
first find out capital gain from sale of flat after indexation - work out separatel capital gain from sale of land after indexation - now as per law u'll have to invest Net consideration from land and only capital gain from flat in a new house
suppose the gain from flat is only 10 lakhs and net cosideration from land is 12 laks then it will be Ok - now u'll be in a position to complete the computation .
17 December 2009
agreed
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