How Much Capital Gains + Income Tax I have to pay?
non-resident indian , sold flat owned in india.
profits made :
bought flat in 2008 inr 12,50,000 (including agent commission , solicitor fees) &
sold same in june 2010 inr 16,65,000 (including agent commission , solicitor fees)
income details:
in last financial year (2009-2010) accumulated rental income of inr 96,000 renting 1 of other flat) , keep on receiving income in year (2010 - 2011)
received rental income of inr 60,000 inr in fy 2009-2010 flat sold.
question :
1> capital gains tax paying on transaction ?
2> need pay income tax along capital gains tax (considering income in india 96000 inr per annum) ?
answers appreciated.
in advance
note : beside rental income have no other income in india.
i non-resident indian , sold flat owned in india. profits made : bought flat in 2008 inr 12,50,000 (including agent commission , solicitor fees) & sold same in june 2010 inr 16,65,000 (including agent commission , solicitor fees) income details: in last financial...
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