Computation of long term capital gains tax payable
Kapil Tiwari
(Querist) 05 October 2012
This query is : Resolved
A plot of vacant land had a Fair Market Value, after indexation, as on 1/4/1981, of Rs.19,39,092/-. This land was sold on 25/7/2012 for a consideration of Rs.1,10,36,000/-. Rs.50,00,000/- were invested in 54 EC Long Term Capital Gains Tax Saving Bonds of REC & NHAI within 6 months from the sale date(25/7/2012). Kindly advise: 1)What is the amount of Long Term Capital Gain? 2)What is the Long Term Capital Gains Tax payable, including Cess, after considering the investment of Rs. 50 lakhs in 54 EC LTCG Tax Saving Bonds? 3)By which date should this tax be paid, considering that the assesee is a Senior Citizen and hence no Advance Tax is payable by her?
VARUN MAHAJAN
(Expert) 07 October 2012
many other aspects are there which we have to study before filing of ur return so all the calculations will be donw by us only and this you will come to know when you are ready to file your income tax return.
more over
this question is what we practice and earn from
