Need help in income tax case
This query is : Resolved
21 February 2015
Need help I had sold a flat worth Rs 2 crores and deposited rs 1.5 crores in CGDS u/s 54 which includes rs 1.3crores which is profit from sale of flat and remaining is my own investment into dat... Now after approx 6months I feel dat I don't want buy any flat and want to invest in shares that amount... to withdraw that amount I had made an application to a ITO for withdrawal of such amount from Bank so now on which amount I had to pay tax @ 20%
21 February 2015
You have to pay 20% tax on long term capital gain. The long term capital gain has to be calculated by deducting indexed cost from sale proceeds.
21 February 2015
you have to pay tax on gain amount
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