Tax for income from real estate

Get the valuation certificate of the land as on April, 2001.

Suppose it is X. So........ that will be indexed to current year cost as 2.72*X.

Thus, your Capital Gains will be (25 lakhs - 2.72X)............ which attracts 20.6% LTCG tax.

Sells expenses and any investement u/s. 54, 54EC etc. are allowed to be deducted from LTCG.

Yes Dear,

If I know the answer will definitely share it........... or may provide any link if it is lengthy or theoretical.........

But one thing is clear....... I avoid giving any solutions to GST queries till the proceedure get settled............ I don't like to give any solution if it is not valid next day !!!

One more thing......... For GST queries our expert CA Madhukar ji would be most authentic and updated...... you may raise your query at madhukar @ hiregange.com.

Similarly there are some very good experts on CCI portal CA R Seetharaman Sir...   (https://www.indiafilings.com/pondicherry/chartered-accountant/r-seetharaman)  

CA B Chakrapani Warrier Sir (https://www.quickerala.com/ernakulam/warriam-road/ramachandran-krishnakumar/237728)..............

and many more......... where you may get perfect solutions....  Good Luck......

As I said earlier............ I will try my best........... but unless I know the query, how to reply?

My Dear Dhirajlal Sir.,

I mean, this one

(After your reply I ll follow the same) to this

(I avoid giving any solutions to GST queries till the proceedure get settled............ I don't like to give any solution if it is not valid next day !!!)

Sorry for the Confusion...

1. Not settled means........

a. GST coucil declared 'there will not be returns for 3 months', but introduced it by way of GST3B..........

b. There will not be any late fees or interest charged over GSTR 3B.......... but levied from few and finally waived off at last...........  etc.

c. E way will be implemented from 1st October, 2017 !!!!!!!!

d. So many changes expected from the council meeting on 6th October.

So, If I reply today any query based on today's regulations.......... it gets different next day......... So, what is the value of my opinion !!!!!!!

That's why I do not reply such queries......