Taxability !!!
This query is : Resolved
Abhishek Kumar
(Querist)
29 May 2014
Dear Expert,
I would like to know whether Sale of Paternal property liable to Tax ???
Pls Suggest with Explanations !!!
Thank You.
I would like to know whether Sale of Paternal property liable to Tax ???
Pls Suggest with Explanations !!!
Thank You.
Rupesh Jain
(Expert)
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
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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