Head Of Department (Accounts & Finance)
1479 Points
Joined March 2009
Dear Sir
Income from Capitak Gains will be as following :
Period of Holding : 26-01-1996 to 12-09-2012
Sales amount : 1575000/-
Less Indexed cost of Acqusition : 223144*852/281=676579
Less: Indexed cost of Improvement : 125000 (please mention a date for it as need to do indexdation of it)
So capital gain will come : 773421 (approx ) and tax will be 20% on the same.
Pension Income : 140638 under income from other sources.
Total taxable income will be as under : (assuming senior citizen)
773421-(250000-140638)= 664059 (total taxable income)
tax on above : 664059*20% =132812/-
Plus education cess 3% = 3985
Total tax payable = 136797
less TDS and advance tax deducted if any
Regards