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
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Income tax calculation
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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
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