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Long term capital gains
Whether Val report is mandatory for valuation of HP as on 1.4.2001 OR can it be reasonably estimated based on Govt ready reckoner rates?
Replies (4)
Quick Summary
It is ideal. Govt Ready Recokner rates.
Thanks for the quick response 🙏
A long-term capital gain or loss is the gain or loss stemming from the sale of a qualifying investment that has been owned for longer than 12 months at the time of sale. This may be contrasted with short-term gains or losses on investments that are disposed of in less than 12 months time.
Long-term capital gains tax rates for the 2021 tax year
In 2021, individual filers won't pay any capital gains tax if their total taxable income is $40,400 or less. The rate jumps to 15 percent on capital gains, if their income is $40,401 to $445,850. Above that income level the rate climbs to 20 percent
What is the status of TDS u /s 195 when both seller n purchaser are NRI.
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