Hi,
Bought the property for 20L 2.5 years ago, now selling it for 45L, how the tax would be calculated, any possibilities to take the exemption ?
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Real estate transactions related taxation
Replies (1)
sale consideration - 45lakhs
indexed cost of acquisition - 2,121,212.1212 ( holding period is more than 2yrs so long term capital gain)
no exemption can be claimed
taxable amount - 2378787.88
indexed cost of acquisition - 2,121,212.1212 ( holding period is more than 2yrs so long term capital gain)
no exemption can be claimed
taxable amount - 2378787.88
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