hello sir... 2 year before maine house purchase kiya tha uska value 25 lakh tha...abhi Maine house sale Kiya hai 30 lakh me... to Abhi mujhe income tax return bharna kai... to Iska Income tax kitna hoga.. how to calculate tax.. plz tell me
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Income from house property
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bhai y capital gain ka question hai
There is LTCG
a. cost is 25 lakhs plus indexation
b. sale value is 30 lakhs
c. LTCG will be b-c
a. cost is 25 lakhs plus indexation
b. sale value is 30 lakhs
c. LTCG will be b-c
to 5 lakh ke uper as per slab rate se tax calculate karna hai kya sir...
Calculate Cost inflation index of 25 lacs and calculate tax.
if you are planning to buy new house than it may exempt based on provision of section 54.
Long term capital asset means a capital asset held by an assessee for more than 36 months immediately preceding the date of its transfer.Thus in your case, there will be short term capital gain (Rs. 30-Rs. 25), income tax will be charged as per slab rate.
For residential houses 3 years period of holding has been amended w.e.f 1-4-2018 to 2 years period of holding for becoming it Long Term Capital Gain
From FY 2017-18, in case of immovable property being land, building or house property, if they are held for more than 24 months, they are termed as long term capital assets i.e. any immovable property will attract long term capital gains tax, if sold after holding for 24 months or more from April 1st, 2017
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