Tax liabilities on short term capital gain
This query is : Resolved
09 August 2011
could your advice on below problem?
Purchase cost of a vocant plot on 02.10.2009 Rs. 505000
Expenses due to purchase
Stamp Registration fees 45000
Brokerage 15000
Interest on loan
(plot purchase loan) 20000
Principal repayment
(plot purchase loan) 15000
Sold the same plot on
05.02.2011 (agreement value) 750000
Sales commission 20000
what is the tax liability for the asst year 2011-12
Purchase cost of a vocant plot on 02.10.2009 Rs. 505000
Expenses due to purchase
Stamp Registration fees 45000
Brokerage 15000
Interest on loan
(plot purchase loan) 20000
Principal repayment
(plot purchase loan) 15000
Sold the same plot on
05.02.2011 (agreement value) 750000
Sales commission 20000
what is the tax liability for the asst year 2011-12
09 August 2011
Cost of Purchase 505000+45000+15000=565000
Net Sales Consideration 750000-20000=730000
STCG =165000.
Net Sales Consideration 750000-20000=730000
STCG =165000.
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