do we have to pay capital gain tax on sale of very old held property since 1987.
is very old house sale is exempted from capital gain tax.
Menu
Capital gain tax on ver old property
Replies (4)
You have to pay capital gain tax of house, howsoever old, when you get any capital gains by its sell..
The tax liability gets reduced due to indexation; in your case based on April 2001 cost.
You have to pay capital gain tax of house, howsoever old, when you get capital gains by its sell.
The tax liability gets reduced due to indexation; in your case based on April 2001 cost.
Also you have to find out the value of property on 2001 from Government registered valuer or from subr ragistarer office for Indexation.
Tax liability will increase due to indexation.
Recent Threads
- GST Rule 14A for Export of Service with Hypothetic
- GST ON QUERY
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
Related Threads
CAclubindia
