CAPITAL GAIN ON SALE OF PLOT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 January 2011
I HAVE PURCHASED A RESI. PLOT ON 19/12/07 FOR Rs. 662550(AT COST+STAMP+REGN FEES) AND SOLD THE SAME ON 21/12/2010 FOR Rs. 12 LAKH AFTER 36 MONTHS.
I WISH TO INVEST THE ENTIRE SALE PROCEEDS IN NEW PLOT BEFORE 31/03/2011
WILL THIS TRANSACTION ATTRACT CAPITAL GAINS TAX IF I PURCHASE NEW PLO?
AND IF YES I ATTRACT CAPITAL GAINS HOW TO CALCULATE AS PER THE COST INFLATION INDEX OF 2007 AND 2010-11
EXPERTS ARE REQUESTED TO GUIDE AND OBLIGE
THANKS
HEMANT G
I WISH TO INVEST THE ENTIRE SALE PROCEEDS IN NEW PLOT BEFORE 31/03/2011
WILL THIS TRANSACTION ATTRACT CAPITAL GAINS TAX IF I PURCHASE NEW PLO?
AND IF YES I ATTRACT CAPITAL GAINS HOW TO CALCULATE AS PER THE COST INFLATION INDEX OF 2007 AND 2010-11
EXPERTS ARE REQUESTED TO GUIDE AND OBLIGE
THANKS
HEMANT G
26 January 2011
S T gain, No deducion allowed.
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