Income from House Prpperty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 May 2011
I am retired business person and my age is 74 years. I am living with my wife .I have my own one house . I have sold my such house in the month of April 2011 at a price of Rs. 17,00,000/- which i have purchsed at Rs. 2,00,000/- during the year 1995. Whether Income Tax is payable or not ? I am living in Nadiad and plan to shift at Indore city in my daughter's house. I don't want to purchase another house.
17 May 2011
200000 *711 ( expected 800 in 2011-12)/281
=5060498
17L - 5.1 Lacs = 11.9 Lacs taxable
Deposit the amount in capital gain account, and decide later, otherwise such 12 L would be brought to tax.
=5060498
17L - 5.1 Lacs = 11.9 Lacs taxable
Deposit the amount in capital gain account, and decide later, otherwise such 12 L would be brought to tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Consolidated financials
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
