Long term capital gain
This query is : Resolved
03 June 2014
I had purchased an agriculturel Land Rs. 157000 in 1974 & a residential House Rs. 245000 in 1975. now i sold land in Rs. 1580000 & House 2500000. How Capital Gain Tax will be calculated.
i have purchased a residential house & take Unsecured Loan for it . Can i utilise the fund to pay the loan & save capital gain tax.
kindly ans my query.
i have purchased a residential house & take Unsecured Loan for it . Can i utilise the fund to pay the loan & save capital gain tax.
kindly ans my query.
03 June 2014
assuming land and residential house are separate from each other...(Since u r using the word PURCHASED residential house)Full value of consideration - indexed cost of acquisition. (U can get the value as on the specified date by govt approved valuer and then calculate the indexed cost)
Unsecured loan bears no relevance in calculating capital gains.
Unsecured loan bears no relevance in calculating capital gains.
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