Dear frinds
please calculate the capital gain tax on sale of inheritance property
purchase on the property 25.01.1972 - Rs. 300/-
Sale of the property on 15.11.2013 - Rs. 28819/-
What is the capitan gin tax calculation procedure.
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Capital gain
Replies (4)
Try to find out the fair market value of the property in the year 1981.
Sale consideration= Rs. 28,819/-
Indexed cost of acquisition= Rs. 300 x (939 / 100) = 2,817/-
Long term capital gain = Rs. 28,819 - 2,817/- = 26,002/-
Long term capital gain tax = Rs. 26,002 x 0.203 = 5,278/-
| Originally posted by : Mihir | ||
 |
Try to find out the fair market value of the property in the year 1981. Sale consideration= Rs. 28,819/- Indexed cost of acquisition= Rs. 300 x (939 / 100) = 2,817/- Long term capital gain = Rs. 28,819 - 2,817/- = 26,002/- Long term capital gain tax = Rs. 26,002 x 0.203 = 5,278/- |
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please send me the details of the tax rate mentioned above 0.203 , i have not examined this rate
please suggest me how to calculate capital gain without indexsation for Rs. 215000/- , the property sold by son after death of his father & the purchase value of the property do not traceable.
Long term capital gain tax rate is 20% + cess
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