After death of parents of a lady the residential land has been sold. Please guide me with below mentioned details to calculate CG for F.Y. 2011-12.
Cost of Land at year-1975: Rs. 1500.00
Development of land & building in year 1975: Rs. 85000/-
Sale of Land & Building in August, 2011 for Rs. 14,00,000/-
Other Income from Interest-28190/-
Pls provide Capital Gain Tax for F.Y. 2011-12
Long Term Capitasl gain on sale-
Sale Consideration-xxxxx
Less-Indexed Cost of Acquisition xxxx
(where cost of acquis =Fair mkt value as on 1/04/1981)
Less-Transfer Exps xxxxx
Note- Improvement Exps incurred before 01/04/1981 is to be ignored because the same is deemed to be included in the FMV as on 01/04/1981.
Then as per above calculation what will be the tax amount
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
T R SOOD & CO
New Delhi
CA Inter
View Details
CAclubindia
