Long term capital gain tax
This query is : Resolved
08 December 2015
Dear Expert
I have purchased 2BHK flat on 12-2-2002 at Rs. 4,00,000/- and sold the said flat on 1-7-2015 at Rs. 15,00,000/-. My question is that whether long term capital gain tax applicable? if so then Kindly explain with working. Further, to save tax on long term capital gain if I will open account capital gain account with bank then how much amount I have to deposit?
I have alreay asked question yesterday, but some of the importan details I forgot to mentioned hence, aksing this question once again.
I have purchased 2BHK flat on 12-2-2002 at Rs. 4,00,000/- and sold the said flat on 1-7-2015 at Rs. 15,00,000/-. My question is that whether long term capital gain tax applicable? if so then Kindly explain with working. Further, to save tax on long term capital gain if I will open account capital gain account with bank then how much amount I have to deposit?
I have alreay asked question yesterday, but some of the importan details I forgot to mentioned hence, aksing this question once again.
08 December 2015
The working is:-
Capital gain=15,00,000-(4,00,000*1081/426)
4,85,000 is the capital gain which you have to deposit in 54EC bonds for 3 years within 6 months .
Capital gain=15,00,000-(4,00,000*1081/426)
4,85,000 is the capital gain which you have to deposit in 54EC bonds for 3 years within 6 months .
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- ITR selection for salaries and capital gain less than L
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Reporting Income under Section 44ADA
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
