I had bought a property in 2001 for Rs.42 lacs and now I am selling it for Rs.1.5 cr.I want to invest this amount in new property which is under construction,Kindly tell me wether I will be required to pay any Tax
I sold a commercial flat and a residential plot and the capital gain is 10 lacs and 20 lacs respectively. if 30 lacs is invested in a new residential house, will the total capital gain of 30 lacs be exempt under section 54F.
i bought a land in 1996 for 3 lacs and sold it in 10 lacs in 2009. i want to purchase an agricultural land.can i make two rooms on that land and can it will be assumed as my house. since i knew that after selling a land i should purchase a land and make house on that land.so i just want to know that what is the minimum construction i can do on that land?
can i use the long term capital gains amount ( sale of one out of two houses ) to modify or construct more area in available vacant area in my self occupied house to claim exemption
I purchased a plot in 1973 for rs. 2 lac and invested rs. 3 lac more on construction of house. Now I have sold the house for Rs. 25 lacs. Now I want to purchase another plot for Rs 25 lac. what will be the capital gain. Is there any reporting to income tax department.
I purchased a apartment in Jan 2004 for a registered value of 12 lakhs and spent another 13 lakhs in finishing works for the apt. So in all 25 lakhs were paid to the builder. Entire 25 lakhs were taken as a housing loan on which I am paying interest since 2004. I also spent additional 5 lakhs in the wood works interiors of the apt. The apt was rented out to tenants since June 2007 and I have received 5 lakhs as rent since then. I want to sell this apt for 60 lakhs now. How much long term capital gain will I attract on this transaction? I also purchased another apt in May 2007 (registration date) for 40 lakhs which is also a housing loan. The possesion of the apt was given in July 2009. If I use the capital gain to pay off the housing loan taken on the second apartment, will I be exempt from capital gain tax? Appreciate your prompt response. Regards, Anil
Re: index value
by Tejas Chokshi on Aug 30, 2009 07:38 PM Permalink
Hi, Indexation for Financial Year 2009-10 has not yet been notified. The indexation for FY 2008-09 is 582. Govt may soon notify the indexation for FY 2009-10.
after selling my shares in the pvt ltd co( which i owned) the amount i received is long term capital gain. wher all i can invest? how to calculate actual capital gain?
