REINVEST TO SEEK TAX EXEMPTION IN CASE OF LONG TERM CAPITAL GAIN

Share
Share This Thread
  1. santosh kumari

    santosh kumari New Member

    I have a property in Gurgaon - initially purchased in installments i.e not in a single year,

    1ST option- Going for Tax Indexation : - LTCG = SALE PRICE - (Indexed cost of Acquisition +Improvement+Transfer) x 20%
    CALCULATING INDEXED COST :- which of the follwing options will be correct
    i) The year when 1st partial amount was paid - will be treated as CII for the Year of Acquisition/Expenditure
    ii) or The year of possession - will be treated as CII for the Year of Acquisition/Expenditure
    ii) Should TAX INDEXATION be worked out for each year till I got the Possesion, AND then
    for TOTAL TAX INDEXATION will it be adition of all consecutive Tax Indexations.
    Please tell for calculationg TAX EXEMPTION which of the above 3 options is correct
    2ND option - NO INDEXATION
    Then will be taxed be calculated as under
    TAX CHARGED = 10% of COMPLETE SALE PRICE

    Is it possible to calculate TEAX EXEMPTION IN THIS STRAIGHT MANNER
     
  2. I am planning to sell part of my house. I already have a flat registered in my name. Am I entitled to buy another house from the money received from the sale of the part of the house mentioned above?
     
Draft saved Draft deleted
Loading...