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Capital gain

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226 Points Posted on 09 December 2017
My brother sold his residential house in the F Y 2015-2016 and calculated capital gain Rs 650000.My qtn is whether he can availBasu exemption of Rs 250000 since his annual income is Rs 54000 and also he is senior citizen and pay the tax I.e 650000-250000 and pay capital gain tax @ 20Pl suggest
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On 09 December 2017 at 04:21 Report
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"Do the Right Thing...!!!"
128147 Points Posted on 09 December 2017
Yes... He can...

As per senior citizen he claim Rs. 3lakhs basic exemption limit...

Income + CG = 700,000 - 300,000 = 400000...
Taxable amount Rs. 400,000..
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On 09 December 2017 at 07:39
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SEO Sai Gr. Hosp.
211557 Points Posted on 09 December 2017

Yes, capital gain tax over Rs. 4,04,000/- at 20% + cess  + interest......

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On 09 December 2017 at 10:49
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"Do the Right Thing...!!!"
128147 Points Posted on 09 December 2017
Dear Sir., Thank you for the Correction. I'm wrongly put the income value Rs 50k... 😊😊😊😊🙏🙏🙏🙏🙏
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On 09 December 2017 at 13:23

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