my colleage had bought a flat at ts 400000/- (four lakhs) agrreement value in 2001
now he wants to sell of which agreement value will be 6000000/- (sixty lakhs)
he will invest 3000000/- (thirty lakhs ) in property
is he liabale for any taxes
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Income tax
Replies (1)
Sir,
Income on Long Term Capital Gain will be calucated i.e purchase date & Amt., sales Date & amt. and fluctuation Index year after that LTCG amt. will be come out, after calculate tax on LTCG.
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