Agricult
Agricult
 |
No items matching your keywords were found.
|
No items matching your keywords were found.
How to calculate capital gains tax on sale of land AGRICULT?
I bought a AGRICULT. soil in 1999 and sold in 2007. I understnad there are two ways to calculate rates are this.One costs (20% of the CAP. Gain with indexation) and one is 10% of the CAP friction. gain (without indexation). And you can pay the tax that is becoming smaller. Pl explain this if you know.
Index for 1999-2000 was 389. Index for the period 2006-2007 was 519. If the property was purchased for Rs 1 Lac in April 1999 and sold in March 2007, the indexed cost would be multiplied by 519 = 1,00,000 divided by 389. R. 1,33,419. If the subject property was sold for (say) RS. 2,00,000, then the profit will be Rs. 1,00,000 on the basis of cost and non-indexed based Rs 66,581 on indexing. You can choose to pay either 10% of Rs. 1,00,000 capital gains, up 20% from Rs. 66581 (profit rate). Obviously, he would choose the lesser of the two, which in this case is Rs 10,000 in Adjusted UN. Please make calculations with the actual figures now. Note: When the cost of acquiring the original asset has been very low and sold for huge profit, non-indexed rate of 10% would be more advantageous.
Organic Foods: Backyard Agriculture
|
No items matching your keywords were found.
You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
Comments are closed.