PROPERTY SOLD
This query is : Resolved
sumit bhartia
(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
Do i have to pay Tax on Rs. 500000.00
What can be done do minimize the taxSUMIT
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.
Nature of property,date of purchase,purchase value,date of sale,sale value etc needed to answer your query.
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
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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