Purchase Land

Capital Gains Calculator

Calculating capital gains tax can be done using one of the online tools designed for the purpose. When calculating capital gains tax using a calculator, the following information is to be entered:

Calculate Capital Gains

• Sale price.
• Purchase price.
• Details of the purchase such as the date, month and year of the purchase.
• Sale details such as the date, month and year of sale.
• Investment details, if any. The capital gains could have been invested in shares, debt funds, equity funds, real estate, gold or fixed maturity plans.

Once you have entered the information, the following details will be generated towards the calculation of your capital gains payable:

• The type of investment.
• Type of gain (whether short or long-term).
• Cost inflation index of the year of purchase.
• Cost inflation index of the year of sale.
• Difference between the purchase price and sale price.
• Time between the purchase and sale.
• Purchased index cost.
• Long-term capital gain without indexation.
• Long-term capital gain with indexation.

Instead of Capital gain if you show it as income from Business you can save a lot of tax.
Indexation will be applicable to land purchased.
Depending on the purchase date of land it will be classified as short term or long term.
In case of shop, if you have sold them immediately on construction it will be short term CG.
But again its advisable to show it as business since you have to factor in cost of construction.

Sir actually my business is of textile so can I consider it as such a business

Sir there is no restrictions in number of businesses you are carrying. So you can show sale of shops under real estate business.

 

But I have sold all the shops without any Gst

Sale of shops after completion would not attract GST