CAPITAL GAIN ON SALE OF COMMERCIAL PROPERTY

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HOSHANG (Querist)
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22 March 2024 DEAR SIR,
WE HAVE PURCHASED A COMMERCIAL PROPERTY BY RS. 2,50,000/- IN OUR PARTNERSHIP FIRM IN THE YEAR OF 2002.
NOW WE PARTNERS ARE GOING TO SELL THIS PROPERTY BY RS 61,00,000/*
SO EXPERTS ,
PLEASE GUIDE ME ABOUT TAXATION IN CAPITAL GAIN ON SALE OF COMMERCIAL TAX.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 May 2024 For what purpose the land was purchased? Whether it was investment or for construction activity?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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08 September 2024 For LTCG over the property will be at 20% with indexation or 12.5% without indexation.

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