banner_ad

Capital gain tax

Tax queries 329 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
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details