Long term capital gain tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 February 2012
My boss has sold a property which was purchased on 2004 and sold in this year.The purchase value was Rs.2500000/- and sold value is 4500000/- what is the long term capital gain tax,what is the method for calculating the tax if he is not interested to reinvest the amount.
22 February 2012
Sale Consideration 45,00,000/-
Less: Expenses on Transfer
Net Sale Consideration
Less: Indexed COst of Acquisition
25,00,000*CII of FY 04-05/CII of FY 11-12
Balance will be long term capital gain or loss.
CII = Cost Inflation Index.
Less: Expenses on Transfer
Net Sale Consideration
Less: Indexed COst of Acquisition
25,00,000*CII of FY 04-05/CII of FY 11-12
Balance will be long term capital gain or loss.
CII = Cost Inflation Index.
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