Income tax calculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 July 2012
Dear sir,
i purchased land in 2010 and sold in 2011. and also i am earning salaries income. am going to filing a return how can i calculate tax on land income and which form should i take. can any of you explain with example plz.
i purchased land in 2010 and sold in 2011. and also i am earning salaries income. am going to filing a return how can i calculate tax on land income and which form should i take. can any of you explain with example plz.
26 July 2012
profit / loss on sale of land will constitute short temr capital gain. Add it to other income and compute the tax. Use ITR2
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