Sale of house proparty lible tax
This query is : Resolved
19 October 2013
Dear Experts
I need info about
My relative Sold there House of rs 22 lkh
& He received Chaque rs 17.50 lkh and 4.5 lkh
They Would Like to Fixed Deposit of rs 15 lkh
then How Much Tax is lible
please give me solution
its urgent
I need info about
My relative Sold there House of rs 22 lkh
& He received Chaque rs 17.50 lkh and 4.5 lkh
They Would Like to Fixed Deposit of rs 15 lkh
then How Much Tax is lible
please give me solution
its urgent
20 October 2013
You have to calculate the Short term or Long term capital gain on those properties as per the income tax provision and calculate the tax after claiming deduction of 80C Rs.1 lakh. also check the exemptions criteria under sec.54
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