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How tax will be computed for buy/sell property


Rajiv Gupta (manager)     26 November 2020

Rajiv Gupta
manager 
 1 likes  61 points

| My Other Post

Hi,

Have one property purchased @ 84.15L in 2016. Now I want to sale this property and buy different property. The selling price is 91L and buying price for other property is 92.5L . Also, will be buying new property before selling.  Queries:
a) What will be the capital gain tax.
b) Can it be adjusted as i am selling and property and buying the another one. But buying will happen before selling property for around 2 months.
c) What will be TDS deducted for buying the property @ 92.5L
 

Regards,

Rajiv 

Aman Verma

Aman Verma   27 November 2020

Aman Verma

 11 likes  202 points

View Profile | My Other Post

A) Hi assuming that you have purchase in FY 2016-17 amd selling in FY 2020-21 so indexed COA = 84.15L*301/264 i.e 95.94L there will be no LTCG in this case ..
b) NO LTCG so no setoff
c)TDS has to be deducted @ 1%

Rajiv Gupta

Rajiv Gupta (manager)     27 November 2020

Rajiv Gupta
manager 
 1 likes  61 points

View Profile | My Other Post

Hi.,..i think tds will be .75% as per latest notification by FM.

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