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TAX ON PROPERTY

This query is : Resolved 
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(Querist)
17 June 2010 DEAR ALL

PLEASE GIVE ME THE FOLLOWING DETAILS.

NON-AGRICULTURAL LAND PURCHASE ON 25-07-2006 FOR RS.2669500.00 (WITH ALL CHARGES AND PROPERTY VALUE) AND SOLD ON 19-05-2010 FOR RS.10021000.00

PLEASE TELL ME THE TAX FOR THE PROPERTY COMES TO RS.?

THANK YOU
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Anil Kumar Meena

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Anil Kumar Meena (Expert)
17 June 2010 If it is not a agriculture land means it is urban which is a capital asset under IT Act.
The whole gain(Sale - Purchase) is taxable as capital gain.

Thankz
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
17 June 2010 SALE CONSIDERATION - 1,00,21,000

COST OF PURCHASE - 26,69,500

INDEX COST OF PURCHASE -
NOW WE ARE NOT ABLE TO CALCULATE BECAUSE YET COST INDEX FOR F.Y. 10-11 NOT NOTIFIED
HENCE ASSUME 700 THEN - 36,00,482

LONG TERM CAPITAL GAIN - 64,20,518
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
17 June 2010 agreed with experts. Long term Capital Gain will be taxable after indexation of cost.
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VIRAL

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VIRAL (Querist)
23 June 2010 SIR ON LONG TERM CAPITAL GAIN OF - 64,20,518 HOW MANY RUPEES TAX I HAVE TO PAY ?
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VIRAL

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VIRAL (Querist)
23 June 2010
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VIRAL

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VIRAL (Querist)
23 June 2010 SIR ON LONG TERM CAPITAL GAIN OF - 64,20,518 HOW MANY RUPEES TAX I HAVE TO PAY ?
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
23 June 2010 TAX PAYABLE IS @20% I.E. 12,84,104.

SUBJECT TO YOUR OTHER INCOME AND INVESTMENT U/S 54EC, 54F ECT.
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