my partnership firm was created in 1977 and but a property worth rs 151000.00 and deprication was taken but after 1991 we never take depriciation on property and now after 1/4/2012 weare going to sale property in its value is arronud 2.5 crore so how much capital gain tax is applicable on my firm my property is also on my firm name and its in assetand its value is arround 400000.00 because of some renovation is done so please tell me capital gain tax amount
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Capitalgain tax
Replies (1)
Do indexation on 4lks and reduce it from 2.5 crores the balance is your Long term Capital gain
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