Regarding the house property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2014 Hello Everyone,

Their is one case,one person has sold his house property for 21 lacs in 2013.
He has purchased that property in 1999 for Rs.250000 lac.
He have done some renovation work in the house for Rs.75000.
While selling the house he had paid some below expenses.
Brokerage charges Rs.42000
Society charges Rs.10000.
He has not purchased any property till date Will he be liable to pay any property tax.
If so, how can we calculate on the above basis.

Regards,
Chirag

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 August 2014 full amount of capital gain shall be taxable if not deduciton is claimed u/s 54

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 August 2014 full amount of capital gain shall be taxable if not deduciton is claimed u/s 54

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2014 Tushar sir, but is their any calculation formula for this above case.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 August 2014 there is no cal but u need to make computation of ltcg if no deduction is there

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Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2014 But how to compute sir LTGC?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 August 2014 full value of consideration
-
indexed cost of acquisition
-
indexed cost of improvement
===============================
LTCG

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 August 2014 full value of consideration
-
indexed cost of acquisition
-
indexed cost of improvement
===============================
LTCG

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