I got a property from in heritage and sold it to another. So now question is how I calculate the income tax liability for this concern. I received Rs. 500000.00 by cheque for that. so please suggest me
ABHIJIT MANNA (ACCOUNTANT) (444 Points)
15 February 2019I got a property from in heritage and sold it to another. So now question is how I calculate the income tax liability for this concern. I received Rs. 500000.00 by cheque for that. so please suggest me
prasad Nilugal
( GST Practitioner & Accounts )
(14260 Points)
Replied 15 February 2019
What is the year of purchase and sold property ?. If purchase was before 2001 then you will have to find out value of property in 2001 from registered valuer . for calculation of ( long term capital Gain ) income tax
"Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
