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Capital gain
MY UNCLE MR. S R SINHA PURCHASE A FLAT BY RS. 1838600/- ON 25.05.2005 AND SOLD THAT FLAT ON 10.05.2017 BY RS. 5000000/-, WHERE REGISTERED PRICE AS PER MUNICIPAL CORPORATION ON THE DATE OF SALE WAS RS. 7000000/-. KINDLY HELP ME HOW TO COMPUTE TAX
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What was the price of the flat as per stamp duty valuation...... or guidance value w.r.t. sub-registrar office?
If you mean to say Rs. 70 lakhs was its guidance value........
Based on indexed cost of flat comes to 272/117*18,38,600 = 42,74,350/-
Hence capital gain would be 27,25,650/- [less any expenditures related to sale].
THANK YOU SIR
THANK YOU SIR
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