Taxability !!!

This query is : Resolved

Abhishek Kumar (Querist)
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29 May 2014 Dear Expert,
I would like to know whether Sale of Paternal property liable to Tax ???

Pls Suggest with Explanations !!!

Thank You.

Rupesh Jain

Rupesh Jain (Expert)
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29 May 2014 cost will taken of previous owner cost and indexation from year previous owner.

x recd property the from his father cost 500000/- in 1997
if selling price is 1000000/-
then 1000000-500000 X selling year index/father cost year index.= capital gain

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