I purchased a residential flat in december 2012 for Rs. 677000 in cash & Rs. 55000 paid for stamp duty + Rs. 25000 paid for brokerage & I have sold this flat today for Rs. 910000. Please let me know the tax treatment on capital gain. thnx
I purchased a residential flat in december 2012 for Rs. 677000 in cash & Rs. 55000 paid for stamp duty + Rs. 25000 paid for brokerage & I have sold this flat today for Rs. 910000. Please let me know the tax treatment on capital gain. thnx
Dear Sir
Your Capital Gain is as following: (Period of holding from December 2012 to till date is Short term)
So,
Sale value 910000
less: indexed cost of acqusition : 834299 ( i.e 677000+50000+25000=757000*939/852)
So capital Gain = 75701 (910000-834299)
(tax will be calculated as per slab rates)
regards.
thank you manoj ji, also let me know the entry treatment in tally. regds
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