banner_ad

Capital gain tax

Tax queries 336 views 1 replies

I purchased a house in April 2010 in 33 Lakh (including registry charges,and broker fee) rupees and sold the same in August 2015 in rupees 60 Lakh.  Also I had spent 5 lakh rupees in the renovation of house in year 2014. renovation include painting, wooden work and some extension in building. kindly tell me tell me

 

i) how much tax i need to pay in terms of Capital gains?

 

ii) what certificate i need to produce to claim renovation costs deducted from profits.

 

iii) can i purchase a residential plot to avoid capital gain tax?

 

iv) if i have to purchase a house again, how much is time allowed to me ? and can i invest this fund in fixed deposits till that time?

 

Thank you.

Replies (1)

Your capital gain will be computed as follows:

 

Sale Consideration       60

Indexed Cots of 

Acq. (33*1081/711)       50.17

Indexed Cost of

Imprvmnt (5*1081/1024)   5.28

LTCG                             4.55

Tax                                 0.94

 

2) Bills for rennovation expenses are sufficient I think.

3 & 4) Yes you can purchase one another residential houe to save capital gain tax within 2 years from the date of sale. If you don't want to purchase house now then you can keep the money in Capital Gain Account and it is generally opened with Government Banks...

For further queries you can contact me at vishal.thakurca91 @ gmail.com                   


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details