We got some ancestral land and purchased additional land, one year back for Rs. 25 lakh, for connecting the ancestral land to the road.
How to calculate Tax, if the entire property is sold togather,
How to calculte Tax if the property is sold in parts
What are the options available to save capital gain tax
Plot that you bought later will qualify for STCG and rest for LTCG. For ancestral land you have to get the market value for 1980 from a certified valuer then you can do indexing. You can invest in bonds to save tax.
Karia Overseas
Ahmedabad
CA
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