Capitals gain from sale of plot pls guide and compute??

Hi Mr. Deepak,

Capital Gains is Taxable in the year in which it arises She Purchased the House in 1996-97 for Rs. 35000/-and Sold in 2013-14 for Rs. 750000/-

Now you Need to Pay Advance Tax for the Capital Gains

The Capital Gain Calculation

Full Value of Consideration                                 750000

Less :- Cost of Transfer (Example)                      15000

Less :-Cost of Acquisition                                    107754

(35000*939/305)  

(If you Incurred any cost of

Improvement for the Property it is Eligible 

same calculation as above)

Capital Gains                                                           627246

Exemptions 

Section 54 you Have to Buy a new House or Construct a house with in a period of 3 year from the date of transfer tii that time the Gain amount you have to deposit in Capital Gains Account Scheme

Section 54EC

You Have to Invest the gain Amount  with in a period of 6 months from the date of Transfer in Long Term specified bonds as specified by the Govt for a minimum period of 3 Years  then you will get exemption