Capital gain tax for commercial property
This query is : Open
19 May 2017
Dear Sir , I had Purchased Commercial Property on 15 Feb 2012.As per following Details
Agreement value :2950000
Stamp Duty Paid:184100
Registration Charges :30600
Broker Charges :67000
Meter Transfer Charges :2500
Society Transfer Charges :12500.
Till Date Maintenance & Repairs :240693
Now i want to sell this commercial property @ 50,50,000/- in May 2017
Broker charges would be - 100000
Society Transfer Charges will be - 25000
Kindly help in Calculating the LTCG for this sale transaction and TDS if any need to be paid Can i save this LTCG tax by paying my home loan of other residential Flat
Regards Dhiraj
Agreement value :2950000
Stamp Duty Paid:184100
Registration Charges :30600
Broker Charges :67000
Meter Transfer Charges :2500
Society Transfer Charges :12500.
Till Date Maintenance & Repairs :240693
Now i want to sell this commercial property @ 50,50,000/- in May 2017
Broker charges would be - 100000
Society Transfer Charges will be - 25000
Kindly help in Calculating the LTCG for this sale transaction and TDS if any need to be paid Can i save this LTCG tax by paying my home loan of other residential Flat
Regards Dhiraj
19 May 2017
Capital Gain Tax will have to be calculated provided you have not taken depreciation on the property.
19 May 2017
Cost inflation Index is not out For financial year 2017 -18.
TDS 1℅ of consideration value Under section 194IA will have to be deducted and paid to revenue under challan.
19 May 2017
* 1 percent
20 May 2017
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