WebMar 21, 2024 · If Land or house property is held for more than 36 months more than 24 months (w.e.f FY 2024-18 / AY 2024-19) ... Applicable Capital Gains Tax Rates on Sale of Property. Short Term Capital Gains are included in your taxable income and taxed at applicable income tax slab rates. WebFeb 12, 2024 · (i) if the amount of the capital gain is greater than the cost of the residential house so purchased or constructed (hereafter in this section referred to as the new …
How to calculate Capital Gains Tax on Property Sale? - BankBazaar
WebFeb 19, 2024 · Income from House property ... (Assessment Year 2024-19), capital gains on sale of shares and securities which were held for more than 12 months and Securities Transaction Tax (STT) was paid were exempt under section 10(38) of Income Tax Act, 1961. From Financial Year 2024-19 (Assessment Year 2024-20), such long term capital … WebJun 4, 2024 · 2024-19: 280: 19: 2024-20: 289: 20: 2024-21: 301: 21: 2024-22: 317: ... Long-term capital gains arising from sale of listed securities. The Finance Act, 2024 inserts a new Section 112A with effect from Assessment Year 2024-20. As per the new section capital gains arising from transfer of a long term capital asset being an equity share in … broadway law office pittsburg ks
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WebAssuming that you have spent an additional Rs.10 lakh on the maintenance to your property, then your long term capital gain will be Rs.39,80,000 (Rs.49,80,000 - Rs.10 lakh). The capital gain tax is charged at 20% with indexation. So the tax you have to pay is Rs.7,96,000. The short-term capital gain is the difference between the cost price and ... WebJul 18, 2013 · But during FY 2024-19, I happened to stay in India for about 250 days and got continuously paid by my employer. Still I am under employment visa and will stay in abroad for around 200 days during 2024-2024. Should I file IT returns for financial years 2024-19 & 2024-2024 for my overseas income. and Can I continue to hold my NRE … WebApr 12, 2024 · The CII number for this year is 348 and it will be used to calculate the capital gains on the sale of long-term assets during this financial year. ... if you purchased a property for Rs 25 lakh in 2002-03 and sold it in the current financial year with a CII number of 348, the inflation-adjusted price of the house would be Rs 82.85 lakh [(348/ ... broadway lawrence vietnamese grocery chicago