Matter of agriculture tax

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Guest

Guest (Querist)

06 November 2012 good evening to all experts,
supoose any1 person sold his land rupees 89lakh and sir party make payment as demand draft in his account. Than sir will he pay any tax in this amount.which itr form he will fill itr2

Amol S Joglekar

Amol S Joglekar (Expert)
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06 November 2012 You need to compute the capital gain tax, if any. Then you may fill and file itr2 depending upon the clase/s of income you are having.

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Guest

Guest (Querist)

06 November 2012 HOW CAN I COMPUTE SIR CAN U GIVE ANY EXAMPLE

Amol S Joglekar

Amol S Joglekar (Expert)
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06 November 2012 Give the year of purchase, cost of acquisition etc. If it is older than 1/4/1981, give the govt approved value as on 1/4/1981... so I can compute the same for you. Also sheck whether the agricultural land is a capital asset or not.

Guest

Guest (Querist)

06 November 2012 SIR CAN YOU TELL ME FORMULA OF COMPUTE CAPITAL GAIN

Amol S Joglekar

Amol S Joglekar (Expert)
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06 November 2012 Surely, please pass on your e mail id so that I can send the excel. Please give me some time before I send the excel. Capital Gain = Sale value less expenses in connection with transfer - indexed cost of acquisition.

Guest

Guest (Querist)

06 November 2012 thanks sir
khulbe.rajeev50@gmail.com i will wait your reply sir
tax rate of capitan gain

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