Computation of Capital gain n get exemption to pay minimal cap. gain tax

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CA Final Student
166 Points Posted on 04 October 2020
Dear Sir/Madam,

Date of purchase of Villa -03.02.2017
Date of Sale of Villa -30.09.2020
Paid via DD dated 29.09.20
Date of Agreement - 31.08.2020
Token RECVD. from buyer on 22.8.20

Sales Consideration @ 59 lakh
Cost of Acquisition @ 4195881/-

Seller wants to buy another residential house/land with this money. How he can save more n more Cap gain tax.
Also compute the Cap gain tax.

thanks
regards
Shyam singh
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On 04 October 2020 at 11:06 Report
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Quick Summary
This discussion explores how to calculate capital gains tax on a property sale and minimise the tax liability. The user is seeking advice on exemptions and strategies to pay less capital gains tax, including the potential use of the capital gains account scheme.

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Tax and Business Consultant
11616 Points Posted on 04 October 2020
Sales Consideration......59,00,000
Less : Cost of Acquisition.......46,43,236 (4195881/272*301)
So, Capital Gain = 12,56,764
1 Reply
On 04 October 2020 at 11:27
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CA Final Student
166 Points Posted on 07 October 2020
Can he opt for Capital gain account scheme
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On 07 October 2020 at 20:41

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