Tax on house sale
This query is : Resolved
ASHISH VERMA
(Querist)
07 June 2016
Hi Sir,
Please help to understand the Income tax applicable for Sale of House property.
Case1: House Purchased at 50 Lac in Aug 2012 and sold July 2016 at 75 Lacs
Case2: House Purchased at 50 Lac in Aug 2012 and sold July 2016 at 47 Lacs
Please help to understand the Income tax applicable for Sale of House property.
Case1: House Purchased at 50 Lac in Aug 2012 and sold July 2016 at 75 Lacs
Case2: House Purchased at 50 Lac in Aug 2012 and sold July 2016 at 47 Lacs
Rupesh Jain
(Expert)
07 June 2016
YOU CAN USE www.bemoneyaware.com/blog/useful-info/cost-inflation-index-table/
For index, selling year index/buying year index X buying cost= index cost
selling price-index cost = profit X 20% tax.
For index, selling year index/buying year index X buying cost= index cost
selling price-index cost = profit X 20% tax.
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