TAX ON SALE OF PROPERTY
This query is : Resolved
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...
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...
27 September 2019
Cost updation.
3400000/167*289=5883832.
Capital gain.
14200000-5883832=8316168.
Capital gains tax 20,80%= 1729763.
3400000/167*289=5883832.
Capital gain.
14200000-5883832=8316168.
Capital gains tax 20,80%= 1729763.
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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
From were u got this figure 167 and 289
In the above calculation...kindly explain
27 September 2019
capital gain index.............................
27 September 2019
Please ignore this message. will resend actual query
28 September 2019
Avoid black money pay taxes for the benefit of the country
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