Short term capital gain
This query is : Resolved
27 March 2017
If an assessee procure a land of Rs-748611, Reg Cost 44960/-in FY 13-14, Cost of Improvement FY-14-15 Rs-848952/- and FY-15-16 Rs-201540/-. sale consideration Rs-2140000/- in the FY 16-17.
Please the amount of capital gain has to pay be the assessee.
Regards
Amit Nandy
Please the amount of capital gain has to pay be the assessee.
Regards
Amit Nandy
27 March 2017
If difference between date of purchase and date of sale is more than 36 months capital gains (long Term) is computed as under
Sale Consideration : 2,140,000
Less :
Indexed cost of purchase : 950,764
Indexed cost of improvement :932,687
Indexed cost of improvement :210,160
Capital Gains : Rs 46,389
If difference between date of purchase and date of sale is less than 36 months capital gains (Short Tern) is computed as under :-
Sale consideration : 2,140,000
Less:
Cost of Acquisition: 793,571
Cost of improvement : 1,050,492
Capital Gains : Rs. 295937 (Taxable at slab rate)
Sale Consideration : 2,140,000
Less :
Indexed cost of purchase : 950,764
Indexed cost of improvement :932,687
Indexed cost of improvement :210,160
Capital Gains : Rs 46,389
If difference between date of purchase and date of sale is less than 36 months capital gains (Short Tern) is computed as under :-
Sale consideration : 2,140,000
Less:
Cost of Acquisition: 793,571
Cost of improvement : 1,050,492
Capital Gains : Rs. 295937 (Taxable at slab rate)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Rental income of jointly held property
- ITR-3 File/Error Found
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
