CAPITAL GAIN TAX CALULATION

IF I sold Non Agriculture land ( situated in CITI AREA) in 150000000/- in Aug'24, and as per valuation report land value in 2001 is Rs. 60000000/- so how much capital gain tax I have to pay ? Also i want to know how much amount i have to deposit in capital gain tax bank account ?

Replies (2)
Quick Summary
This discussion clarifies the capital gains tax calculation for selling non-agricultural land. Based on the provided valuation report, the indexed cost of the land in 2001 is significantly higher than its sale price in August 2024. Therefore, there is no capital gain liability, and consequently, no deposit is required in a capital gains tax account.

The query already replied earlier.

There is capital loss to be carried forward as per valuation report of 2001, and its indexed value as in 2024-25.

So, no capital gain liability and as such no need to deposit any amount in capital gain bank account.

Wrong calculatiìn

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