Long term capital gain
This query is : Resolved
Salil jain
(Querist)
26 January 2018
My property market value is 22 lac
Municipal value is 34 lac
Nd my property value is in 2001 was 93000
How much long term capital gain tax have i to pay on it
Municipal value is 34 lac
Nd my property value is in 2001 was 93000
How much long term capital gain tax have i to pay on it
CA Suresh Jain
(Expert)
26 January 2018
Calculate Index value of Rs. 93 and deduct it from the value to be taken for registration of property (not the municipal value adopted for house tax/property tax), the excess of the registration valuation over the index value of Rs. 93k will be LTCG
Salil jain
(Querist)
26 January 2018
How will i know value to be taken for registration and how can i reduce to LTCG
CA Suresh Jain
(Expert)
26 January 2018
You need to visit Sub registrar's office to find the value of your property or take the help of a property broker or advocate
Salil jain
(Querist)
26 January 2018
How can I reduce to LTCG liablity
CA Suresh Jain
(Expert)
28 January 2018
There are exemptions available against investment of consideration or capital gain under sections 54, 54EC,54EE, 54F & 54GB
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