i bought a plot of land in 1998 for Rs.2 lakh(approx), and built a home over it in 2001 for Rs.3.65 lakh.
what amount of tax i am supposed to pay if i sell this home today for Rs. 40 lakh???
how can i calculate this?
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LTCG on property sale
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Get valuation certificate of the house property from registered valuer as on 2001-02, based on that LTCG can be calculated.
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