Hi,
This question is with regards to future investment planning.
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Say I have purchased a property (assume all in white money, which was taxed), and sold after few years with x% profit. Do we need to pay for all the amount (original + profit) or need to pay only on profit accrued?
Ex. Purchased land worth 50lakhs in 2019, and sold it in 2022 for 75lakhs. Should I pay for entire 75lakhs or only 25lakhs?
Naturally only over gains!!
As in example, 20% LT cap gain over 25 lakhs.
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