10 August 2019
share of plot sold at native place town area Rs 2,00,000/- (my 1/4th share) in 2018 2019 whether atract LTCG tax and how much tax i have to pay & how i reflect in ITR Return land purchased in 1972 @ Rs 9000/-
11 August 2019
1 Yes LTCG attracted. 2 Deduct indexed cost of purchase to work out capital gain. 20% tax payable on gain. 3 Show it under sale of long term capital gain on sale of land.
CAclubindia
