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Capital gain

Tax queries 361 views 1 replies

pls help me to solve this problem

 

ragav sold gold ornament on 16-7-2012 for a sum of rs 1000000 this gold was purchased in 1978 for rs 60000 by his fathr. the fair market value of the gold as on 1-4- 1981 was rs 100000. his father gifted the gold to ragav on 15-7-2012 . he spent rs 200000 till 31-7-2013 the due date for filling of the return on construction of a house property and deposited 500000 on 31-7-2012 under capital gain scheme and spent a sum of rs 400000 for the construction of the house property till the stipulated time . compute capital gain chargeble tax on this transction for various relevant assessment year

email id : kanchanjagdhane @ gmail.com

Replies (1)

Dear Kanchan,

kindly give the FMV of the gold on the date of gift (15.07.2012)..

 

 

Best Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com


CCI Pro

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