if individual age 46 then income tax tax
how to calculate capital gain tax and pgbp on captial assets if residential house property purchase in 2001 02 of rs 500000 if converted in stock in trade f y 2025 26 now fmv 5000000 but sold in t y 2026 27 then fmv 7000000
The transaction is split into a Long-Term Capital Gain of ₹31,85,000 (FMV at conversion minus indexed cost) and Business Income of ₹20,00,000 (Actual sale price minus FMV). Both amounts are taxable in the Assessment Year 2027-28 (the year the stock was sold).
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