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Capital gain calculation

Tax queries 666 views 3 replies

I purchased a house in March 2005 for Rs. 475000. (Rs. 70000 extra towards stamp paper for registration) I invested Rs. 250000 for its repairs in 2007-2008. I sold it for Rs. 1500000 in Jan. 2010.

How much capital gain I have to pay. Am I required to show some document to prove cost of repair. I have taken no loan for repair. Can I save if I purchase some capital gain bonds.

Replies (3)

Dear Karunesh,

In which year u had incurred expenses on repairs (plz tell me interms of Financial Year like- 2006-07)

Sir, U must have paid Stamp duty at the time of sale as well..Plz tell me the amount & rate at which it was paid..

definitely yes.... 54 EC.....


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