Capital gain tax exemption on sale of old house
This query is : Resolved
20 November 2022
Cost of the house including registration in 2001-02 Rs 2,18,000
Expansion and additions to the house in 2003-04 Rs 5,00,000
now to be sold at 62,00,000 December 2022
what will be capital gain tax exemption after indexation ?
what document will be required for tax exemption ?
Thanks
Expansion and additions to the house in 2003-04 Rs 5,00,000
now to be sold at 62,00,000 December 2022
what will be capital gain tax exemption after indexation ?
what document will be required for tax exemption ?
Thanks
20 November 2022
There will be LTCG of around 39,60,000/-
The said amount can be invested in Capital Gains Bond, u/s. 54EC, to reduce the tax liability to NIL.
The said amount can be invested in Capital Gains Bond, u/s. 54EC, to reduce the tax liability to NIL.
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