Sir,
We have sold an open site for Rs.12.8 Lakhs which was purchased in the year 2001 @ 1.25L. What will be the tax applicability on this?
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Sale of open site - income tax applicability
Replies (1)
There is long term capital gain.
Indexed cost: 1.25 x 280/100 = 3.5.
LTCG: 12.8 - 3.5 = 9.3.
Tax: 20% = 1.86.
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