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Capital gains commercial
Sir with due respect I want to know that I have purchased a plot in commttee area for Rs 20.00. Lac in the f.y 2012-13 and in the said year I have made the construction for Rs 25.00 Lac and now in the f.y the above said land with building has been sold for Rs 62.00 Lac Sir I want to know how to calculate the capital gains on the said transaction and how many capital gains tax comes on the above said transaction.Thanks
Replies (1)
If you have sold the property after 23.07.2024, as per the finance bill proposal, you will have to pay 12.5% LTCG tax over 62-45= 17 lakhs. i,e around 2.125 L + cess.
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