Income Tax on Real Estate Agent
This query is : Resolved
13 August 2016
Real Estate Agent purchase a property Rs.1000000/_in F.Y.2013-14 & he had sold in F.Y. 2015-16 Rs.2420000/- How to calculate his profit & Income Tax. I have just givan an example for suggestion to me.
13 August 2016
If it is purchased in his name than the Income to be treated as Capital Gain , in your example it is shown sold property is less than 3 years so short term capital gain arise.
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