Residential house property - capital gain tax rate
This query is : Resolved
23 September 2014
Hi Friends,
what is the tax rate in case long term residential house property is sold .
is it required to add 3% education cess and 10% surcharge (income exceed 1Cr.)
In my calculation Ex.
Tax@20% 5700000
Add: surcharge @ 10% 570000
Add: cess @3% 188100
-------
Total Tax 6458100
what is the tax rate in case long term residential house property is sold .
is it required to add 3% education cess and 10% surcharge (income exceed 1Cr.)
In my calculation Ex.
Tax@20% 5700000
Add: surcharge @ 10% 570000
Add: cess @3% 188100
-------
Total Tax 6458100
23 September 2014
Yes education cess 3% and surcharge @10% applicable.
Your calculation is correct.
Your calculation is correct.
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