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PROPERTY SOLD

This query is : Resolved 
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(Querist)
22 November 2008 I have sold One Property resulting in a gain of Rs.500000.00 in Oct 2008

Do i have to pay Tax on Rs. 500000.00

What can be done do minimize the taxSUMIT
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
22 November 2008 Details are not sufficient to give a reply.
Nature of property,date of purchase,purchase value,date of sale,sale value etc needed to answer your query.
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K V Subba Rao

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K V Subba Rao (Expert)
22 November 2008 Consult local CA to work out Capital Gain after indexation etc., and pay tax.

Utilise sale proceeds of propery which you disposed off for buying a plot or site. Real estate market is now good to buy
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