Capital gain tax

Hello friends,

I have sold a small property ( which was purchased in 1981 ) for Rs 36 lakhs in July'2012.

After taking capital gain index value ( 100 in 1981 & 852 in FY 12-13 ) in to account, and based on my advocates advise, I have deposited Rs 30 lakhs in to CGS account in a nationalised bank, with the intention of using it for the purpose of buying a small flat with in 2 year period.

My question is.............                                                                                                                                                                                   if I have to add the remaining amount of Rs 6 lakh, which is exempted from Capital gain tax, to my taxable income and pay tax on the same this year ( FY 12-13 ) ?

If somebody can respond quickly, I will be very grateful.

Thanks in advance.

kkpk.

 

Replies (1)

You have to add this to your total gross income then u can claim exemption for this rs 6 lakhs, By this your total taxable income will be same as before taking this into account.

 While filing return there is a column of exempt income, Put this figure of Rs 6 Lakhs in that column. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details