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Capital Gains plz help

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Senior Finance Officer
398 Points Posted on 22 October 2018
A person purchase a flat without home loan. around 3-4 before at 21 lakh.
Now he sell his proprietary at 27 lakh. Hi is liable to capital gain or any income tax plz tell me.
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On 22 October 2018 at 16:14 Report
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Student
3549 Points Posted on 22 October 2018
21 lakhs will be subject to indexation and after indexation deduct from 27 lakhs. if amt is + then he it is capital gains
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On 22 October 2018 at 16:19
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Chartered Accountant
1272 Points Posted on 22 October 2018
Chargeable under Capital Gains if the Net result is positive.

Since the property is long term hence Indexation benefit can be availed as per Sec 48.
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On 22 October 2018 at 16:21
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Senior Finance Officer
398 Points Posted on 22 October 2018
How much taxation rate
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On 22 October 2018 at 18:37
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Chartered Accountant
1272 Points Posted on 22 October 2018

As per 112 it is taxable @ 20% + Cess

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On 22 October 2018 at 18:48
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397 Points Posted on 22 October 2018
moreover cost of acquisition includes ppty cost as per registration deed stamp paper cost and improvement capital in nature with Bill's.
from sale consideration legal fees brokerage could b deducted and indexation benefit
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On 22 October 2018 at 18:54
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a
1620 Points Posted on 22 October 2018
if other home purchase then i think no...
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On 22 October 2018 at 22:20


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