Capital gains Tax on Immovable Property
This query is : Resolved
Sanjay Kalra
(Querist)
11 August 2009
Dear All,
Please let me know as to what will be the capital gains tax payable by an individual who bought an immovable property @ Rs. 1.25 Lacs (total consideration) during the financial year 1986-87.
Now he wants to sell the same during the current financial year @ Rs. 30 Lacs.
Thanks to All.
Sanjay Kalra
Please let me know as to what will be the capital gains tax payable by an individual who bought an immovable property @ Rs. 1.25 Lacs (total consideration) during the financial year 1986-87.
Now he wants to sell the same during the current financial year @ Rs. 30 Lacs.
Thanks to All.
Sanjay Kalra
Aditya Maheshwari
(Expert)
11 August 2009
Indexed Cost = 1.25 * 600 (assumed for F. Y. 2009 - 10 not yet notified, L. Y. 582) / 140 = 535714
Sale consideration = 3,000,000
Indexed Cost = 535,714
Gain = 2,464,286
Tax @ 20.6% = 507,643
(If no investement made u/s 54, 54EC or 54F whereever applicable
Sale consideration = 3,000,000
Indexed Cost = 535,714
Gain = 2,464,286
Tax @ 20.6% = 507,643
(If no investement made u/s 54, 54EC or 54F whereever applicable
Sanjay Kalra
(Querist)
17 August 2009
Thank You so very much. I truly appreciate your effort by answering to my question.
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