Capital gain tax

FLAT PURCHASE IN F.Y.10-11 SAY FOR RS.1250000 &

SALE IN F.Y.12-13 SAY FOR RS. 2500000,

HE HAS TAKEN LOAN OF RS.950000 AND 

AGAIN HE PURCHASE ANOTHER FLAT FOR RS.15,00,000/-

PLEASE LET ME KNOW THE CALCULATION OF CAPITAL GAIN IN SHORT TERM

WHETHER BANK LOAN WILL BE DEDUCTED OR NOT PLEASE CLARIFY ME VERY SOON

 

 

Replies (3)

Please refer the MS Excel sheet attached below for the Tax calculation.

 

Regards,

Devendra Kulkarni

THANKS MR DEVENDRA FOR YOUR BEST SOLUTION

Good calculation.

I am also looking for a complete ITR-2 excel return form sample, where to enter what with respect to which amount.

Eg. Most get confused how to show losses in ITR return, how to carry forward losses, what to write in Interest Income in Exempt Income when you are Resident Salaried Individual and when you are non-resident Salaried Individual.

One or two completed samples of ITR-2 excel with specific cases will help.

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