TAX ON PROPERTY
This query is : Resolved
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
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
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
The whole gain(Sale - Purchase) is taxable as capital gain.
Thankz
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
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
17 June 2010
agreed with experts. Long term Capital Gain will be taxable after indexation of cost.
23 June 2010
SIR ON LONG TERM CAPITAL GAIN OF - 64,20,518 HOW MANY RUPEES TAX I HAVE TO PAY ?
23 June 2010
SIR ON LONG TERM CAPITAL GAIN OF - 64,20,518 HOW MANY RUPEES TAX I HAVE TO PAY ?
23 June 2010
TAX PAYABLE IS @20% I.E. 12,84,104.
SUBJECT TO YOUR OTHER INCOME AND INVESTMENT U/S 54EC, 54F ECT.
SUBJECT TO YOUR OTHER INCOME AND INVESTMENT U/S 54EC, 54F ECT.
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
- Traces Portal
- U/s.234E late fee- balated filing the TDS returns
- Capital Gain Incidents
- Rectification of TDS return - Sale of property
- Clubbing of Income - Minor
- Cheque bounce intimation letter
- Applicability of corporate governance provisions as per the SEBI LODR
- REVERSAL PROPORTIONATE ITC
- Conversion of director loan to equity
- RCM AND NORMAL TAX INVOICE
- URD SEPARATE INVOICE
- FORM 121 UNDER NEW INCOME TAX ACT 2025
- GED Exam Help
- ERROR IN DEPRECIATION CALCULATION IN PREVIOUS YEAR COMPANY'S BOOKS
- Regarding Individuals Retuned to India and Resident currently
- Minor Aadhar card cancelled
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
