Capital gain tax on profit on sale of land
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 August 2012
DEAR SIR,
1 HAD PURCHASE A LAND AMOUNTNG TO RS.38,25,000.00 ON 20.01.2009, & SOLD THE ABOVE FOR RS. 1,14,04,437.00 ON 17.02.2012 & GET PROFIT OF RS. 75,79,437.00
TELL ME WHAT WILL BE MY CAPITAL GAIN TAX
THANKS & REGARDS
SUMIT
1 HAD PURCHASE A LAND AMOUNTNG TO RS.38,25,000.00 ON 20.01.2009, & SOLD THE ABOVE FOR RS. 1,14,04,437.00 ON 17.02.2012 & GET PROFIT OF RS. 75,79,437.00
TELL ME WHAT WILL BE MY CAPITAL GAIN TAX
THANKS & REGARDS
SUMIT
26 August 2012
Your Capital Gain is Rs.6245288/-(3825000*785)/582. Long Term Capital Gains will be taxed @ 20%
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