Long term capital gain on property ,India?


1. case, index costing method may adopted.
2. cost of property cost of rs.100,000 + registration cost.
3. has indexed 711 divided 426. indexed cost.
4.maintenance cost can not taken account.
5. sale value reduced indexed cost net long term capital gain.
6. on gain, tax calculated @ 20%.
7. before calculating final tax liability, if not have other income gain, basic exemption limit can reduced net gain.
8. if need more clarifications, better consult tax consultant near place.

i purchased property @ annual installment of rs.10000/- (10 years payment) (1989 1998)
after paying rs.1 lakh total, got registered in name in 2001
paid maintenance charges total rs.35000/- 2001 2010
sold in 2010 rs.8 lakhs
tax liability (by indexing/ not indexing)


Business & Finance Taxes India Next



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