Dear Sir/Mam, 31.12.2014
Greetings !!
We have flats in Registered Pvt. Ltd. Company's Name and we are the directors in the company. We have been taking depreciation in the above flats every year (5%)
We are planning to sell our flats (which have been purchased about 20 yrs back) , we would like to know the following :
1. What are the capital gains tax to be beared by us ?
2. If we want to sell the above flats and invest part/whole consideration into buying new flats, please mention the tax liability we have to bear ?
3. In how much time we have to make the investment after the sale of flats?
Hope you will be able to answer the above query
Thanks
Regards,
Abhay