Capital gain tax liability

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Querist : Anonymous

Querist : Anonymous (Querist)

07 November 2011 An individual who purchase property in 2001-02 for Rs.5,04,000 and sold in 2011-12 for Rs.38,00,000 against purchase of property for Rs.30,00,000 new property. A)What would be tax liability? B)Where can fund be invested and C) Indexing would be apply or not?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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07 November 2011 Property purchased and sold: Please specify whether both the properties are residential or otherwise.

Indexation as well exemption from Capital Gains will be available.

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