TAX ON LONG TERM CAPITAL GAIN

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..... GOOD EVENING TO ALL MY GREAT EXPERTS, SIR PLEASE CLEAR MY DOUBT REGARDING TAX ON LONG TERM CAPITAL GAIN FOR SALE A LAND. SIR SOLD A LAND AMOUNT 60 LAKH IN YEAR 2014. I WAS PURCHASE THESE LAND ON YEAR 2010. OF 40 LAKH. MY CALCULATION ON CAPITAL GAIN AS BELOW. SALE AMOUNT = 6000000 YEAR = 2014 COST I .....

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..... NDEX NO. = 1024 PURCHASE YEAR = 2010 AMOUNT = 4000000 COST INDEX NO. = 711 THEN INDEXED COST = 4000000 X 1024 = 5760900 711 CAPITAL GAIN = INDEXED PURCHASE PRICE - SALE PRICE 5760900 - 6000000 = 239100 239100 X20 /100 = 47820 TAX SIR MY QUERY IS THAT AS PER ABOVE CALCULATIO .....

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..... N I WILL PAID TAX ON CAPITAL GAIN IS 47820. BUT SIR MY QUERY IS THAT 60 THOUSAND TDS DEDUCT BY PURCHASER ( 6000000*1/100). SIR SO I WAILL PAID TAX AFTER ADJUST TDS DEDUCT 60000. MEANS TAX = 47820 TDS = 60000. MEANS I WILL GET REFUND 12180 ( 60000-47820). SIR PLEASE REPLY MY QUESTION. - Reply By Ramaswamy S - The Reply = refund of ₹ 10745/- to be claimed in t .....

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..... he returns. 47820/- +Cess of 3% (1435)= ₹ 49255/- is the tax. Regards S.Ramaswamy 9686088864 - Reply By Rajeev Khulbe - The Reply = Sir Can you tell me that which TYPE expenses we can less In capital gain like stamp duty etc ???? - Reply By Ramaswamy S - The Reply = The expenses incurred towards selling of the property like the brokerage charges, provided bills are available .....

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..... can be deducted from. Stamp duty paid at the time of purchase is part of the cost of the property and hence is to be considered to arrive at the cost of the property. - TAX ON LONG TERM CAPITAL GAIN - Query Started By: - Rajeev Khulbe Dated:- 15-3-2017 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management Indi .....

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..... a - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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