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TAX ON SALE OF PROPERTY

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(Querist)
26 September 2019 Sir...one of my relative lives to US and wants to sell his property in India...i would like to know how much tax he needs to pay.. and also i want to know the procedure to calculate this tax. following are the property details:-

Date of purchase 2nd July 2010
purchase price : Rs.34,00,000
going to sell next month for Rs. 1 crore 42 lakhs

please let me know whats the tax he needs to pay and procedure to calculate. Thanks...
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
27 September 2019 Cost updation.
3400000/167*289=5883832.
Capital gain.
14200000-5883832=8316168.
Capital gains tax 20,80%= 1729763.
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123456

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123456 (Querist)
27 September 2019 Thank u sir..for replying...May i know
From were u got this figure 167 and 289
In the above calculation...kindly explain
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
27 September 2019 capital gain index.............................
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123456

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123456 (Querist)
27 September 2019 Please ignore this message. will resend actual query
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 September 2019 Avoid black money pay taxes for the benefit of the country
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