HI AVERYONE
I want to know i purchase a commercial property on 26.06.2001 @ 170345.00 and sale on 01.03.2019 @ 2310500.00
how much capital gain tax on it
HI AVERYONE
I want to know i purchase a commercial property on 26.06.2001 @ 170345.00 and sale on 01.03.2019 @ 2310500.00
how much capital gain tax on it
This is a long term capital asset and there will be LTCG on sale of such asset. LTCG = Net sale consideration - (cost price*CCI of year of transfer/CII of year of purchase) , i.e. indexed cost of acquisition is to be deducted from net sale price.
R P S K & Associates
Nashik
CA Inter
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
