617400\- Sale value consideration 3105000 construction done in year 1970 covered area 23 sq. Circle rates are the minimum property prices designated by the state government, below which sales transactions cannot take place. Since “cost of acquisition” is historical, the concept of indexed cost allows the taxpayer to factor in the impact of inflation on cost. Capital gain 1989750 Less brokerage and other cost Now shall i get indexation benefit on Rs 10 lacs for calculation of long term capital gain. Can I.T. Do I need to pay any long term tax? I have not purchased any flat uptil now. Sir, please clarify, what is the cost of inflation factor for the financial year 2010-2011, sir i have sold residential NA plot Circle Rate in Delhi – Age Factor. Since the plot of land was purchased in 1975. AND ITS RULES, Dear Sir, I wants know about sale of a housing plot (No building) Do we also have to pay income tax on the interest earned on the LTCG deposited with NHAI? As I had sold the flat on 15/03/2012, do I have to declare capital gain in tax return to be filed by 31 July 2012 or next year as I have 6 months time to reinvest in another flat. Can i make this in two breaks or not before 15.03.12? Latest Rate List/Circle Rates of Delhi. Kindly advise and oblige. In the year 2006-07, I bought one flat in 12 lacs. Stamp duty paid = Rs.15688. If both the year of acquisition and of sale are anterior to FY 2001-02 but in any case, sale is in not later than FY 2016-17, then no problem. now i want to show that bank account at the time of filing return, please suggest me how to treat this. Less cost of acquistion @Although few people said that CII prior to 1980 will remain 100 but how true is it? Plz reply me. How much tax did I have to pay on this capital gain. I built the first floor in the year at a cost of Rs 250000/- There is an offer of 90,00000/- Pl let me know what will be the capital gains on the sale and also let me know the ways to avoid capital gains, WHAT IS CAPITAL GAIN & WHAT IT APPLICABILT According to section 50C of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’), if the circle rate of a property is, for instance, 90 lakhs and the market value is 87 lakhs, the buyer has to pay stamp duty on the circle rate i.e., 90 lakhs, even though he bought the property for a lower rate. guide in calculating capital gains tax on property acquired by My father in 1980 for 1,40,000 for 200 sq yards and sold one floor in 2020 for INR 75 lakhs . Can I and obtain exemption on paying tax on capital gain? Pl guide me, I had purchased a piece of land for Rs 700/- wayback in 1975 and sold it for 5 lakh. ( Not even 3 yrs completed). thank you The new circle rates of properties in Delhi … Land purchased on 13/9/1991for 60000 want to sale now for 5000000(fifty lakhs).what will be capital gain tax. 5 lacs, now we are planning to sell this property for Rs 20 lacks. sir, At the time of sale someone is offering me to give me 20,00,000/- I built a ground floor in the year at a cost of 2,25000/-. and wants to buy a flat value 60 lac . we have a 70 year old anscestral property and purchase price was equal to negligiable , the current actual price of property is 3.50 cr, i want to ask wht will be the actual amount of capital gain if i sell it in 2010 ,also if i dont purchase any property or invest in bond then how much capital gain i have to pay , do we have to invest in bond and purchase a property within 6 months , can we invest 100% of total amount in bonds , is income from bonds taxable again or not. I do not want to go for new residential property & also not much interested in Govt bonds, whats the way out to save tax?? Not rated ... FORM THE ASSESSMENT YEAR 2018-17 BASE YEAR IS CHANGE FROM 2001 INSTEAD OF 1981. 2016. 100 x 785/100 i.e Rs. dear sir, i bought aflat in 1981 at 58000 and sold it in 2014 at 12 lkhs,( in 2007 i spent rs. Now, multiply the product with the applicable age factor. The furniture was purchased in July 2009 and was sold in December 2019, Cost Inflation Index for various years is as under. Can the capital gains be adjusted against the purchase of this apartment ? HOW SOULD I CALCULATE LTCG ON PROPERTY PURCHASE DURING 1996-97 AND SALE DURING 2019-20, Sir, B is going to sell his portion in 2010-2011 for 60.00 Lac and shall invest in flat to be free from capital gains. have shown a decline in growth rate in the decade 1971-81 compared to 1961-71. i have sale my enssestal property which purchased in 1969.but we our selling it in 2011.the circle rate of that land in1981 is rs80per sq met.and today its circle rate is rs.3360per sq meter than what capital gain we have please tell us if u can .thanks,sangeet raebareliy. retain only one)and then within the next few months buy another residential property equal to the sale price of one floor and cheque consideration, will it attract short term or long term capital gain? I was finally given possession in june 2013 for Rs 37 lcs including the Rs 5 lacs paid in 2004. As my mother is retired from a private company. I am holding an NRI status since 1995 and holding a permant resident status of Australia. indexed cost of improvement = 0, long term capital gains without exemption = 19,80,000-(5,47,479+0) = 14,32,521. 1) How much capital gain tax will be charged to my father ? I have no pension & Where Can I invest the capital gains for my future source of Income. The property was purchased on 25/7/2002 @ 2,970,00/- + stamp Duty 40,095/- + Betterment 22,562/-+ Registration, Tax 27,563/-, No receipt for brokerage and sale writing fees etc. If yes, how can I save it as I also own a flat in Bangaluru. 5,00,000/- what is capital gain In case i sell my flat in the financial year 2011-12 (original Date of registration 25-01-08)which factors should i consider for working out the CG? Sold it for Rs 20,00,000 on 15-June-2010. 2011-12 will be applicable or 2012-13, I HAVE ENTER INTO AGREEMENT IN 14.08.2001 FOR PURCHASE OF FLAT FOR RS. Residential. intended to be sold in FY 2010/11. WHAT WILL BE THE INDEXATION VALUE FOR PROPERTY BUILT IN 1974-75, FINANCIAL YEAR? 5000/- per month & final registry done on 1997 we are giving with additional work like wood,tiles, grill,slide windows,ups, hardware, another fresh painting work , 8 to 9 lacks work, we have 6 lacks tax bill, 3 lacks odd bill to avoid capital gain tax. Additionally, if total taxable income during FY16 exceeds 1 crore, you would be required to pay a surcharge at 12% (as proposed in the Finance Bill, 2015) on the basic rate (i.e., 20%). The sale amount i.e. In short, what is the best option to save Capital Gain tax while keeping the transaction in cheque? 800*1765 =1412000 MTR and is situated in distt Ghaziabad up. sir i want to know that if a man sales and purchases the property in a financial year 3-4 four times dn how the capital gain tax will effect. excluding my 2 floors) from my brother. There is an offer of 90,00000/- for the property. Consequently, a lower amount of capital gains gets to be taxed than if historical cost had been considered in the computations. Best Regards, Please tell me the applicability of capital gain tax on this. Less cost of improvement Nil ( you have not specified), Less cost of transfer Nil ( not specified), ———– , in year 1999 covered area 17 sq. order passed without sufficient opportunity, No Entertainment Tax on Online Cinema Ticket booking charges, GST on supply of Solar Power Generating System, Composite work contract pre-dominantly of earth work to Government Entity attracts 5% GST, No Tax deduction under GST on Exempt Services, No GST on reimbursements received from HO by LO, Join Detailed Online Certification Courses on GST, All India Protest Call against GST/Income Tax Issues by WMTPA, Extend due dates of GST, Income Tax & ROC Compliances, CBDT rejects Income Tax Due date extension representations, CBDT issues Corrigendum to Order on due date extension, Uttarakhand HC directs CBDT to consider representation on due date extension, Due dates for filing of Form GSTR-3B for December, 2020. one of my client has sold his half property in January1981 for Rs.26 lacs and other half was to get constructed at Rs.100/- per sft.by the purchaser.Due to some problem the purchaser did not honour the terms and conditions of the agreement.Again in the year 1992 the property was sold to Z (by the 1st vendor and the 2nd vendor).Due to lower valuation the IT Dept.acquired the property.The acquisition was challanged and pending the acqusition ( acqusition provisions were repealed)the property was sold to another party in the year 2006(by both the vendor) with the understanding of Z.Now my question is what is the value of cost for the 1st vendor.Please note that eventhough the 2nd vendor is a party to the final agreement of 2006 he never became the owner to claim any cost in the computation. New Bungalow contracted by the builder and allotment made by the Society whether it can be said that allotment/possession given by the builder on 01.10.2006? Delhi Government hikes Circle rates. ( If initial purchase price records are not avialable then what will be the price ) Thanks for answering my query. I had taken a Loan for Rs 5 .25 lac for the same and borrowed some money from my relative of around 1 lac. I hope this is going to assist me the long way in the study of taxation, Thank you for your knowledge, Can somebody tell CII for the year F. Y. The propert is at urban area. I have already a house since 1995 in ghaziabad. sir, 3 bedroom ground floor park facing. Dear Sir sale cosideration is to be distributed 50% each. 1. can i buy a flat and avoid capital gain tax In "Andhra Pradesh Bihar, Karnataka, Punjab, Rajasthan and Uttar Pradesh the growth rate in 1971-81 has been above that of the previous decade. 3 Lakh on taxpayer for dismissing dept. Multiply the house’s built-up area with the minimum construction cost. List Your Property Free. Sir, Circle Rate in Delhi – Age Factor. Pl do advise. 35 lakhs What. BLS, How to arrive at CII for the property purchased in 1950 what     would  be   probable    cost  index    for  year   2012   -13  . Thanks. sold that property in 19 Dec 2012 @ 2500000/-. please suggest me. give tax planing for tax saving. Minimum Rate (Circle Rates) for valuation of land and properties for the purpose of payment of stamp duty under Indian Stamp Act. 112500/- Further, amount of Rs. sir my purchase price of a agricultural land was of rs 5 lakhs and i had purchased it in 2005-06 f.y . I WANT TO KNOW WHY CI INDEX IS NOT APPLICABLE FOR SHORT TERM CAPITAL ASSETS? 3000000/- in 7 April 2014 which was purchased a Semi construct house property from a society in 2003-2004 Rs. demand capital gain from me for disposal of old bungalow purchase in the year 1973 and sold it in the year 2007. Delhi Govt revises circle rates, property prices may go up. My question is whether evaluation is reqd to be or tax liability can be calculated based on jantri/CII. we have a 70 year old ancestral property , the current actual sale price of property is 1.00 cr, i want to ask what will be the actual amount of capital gain,also if i dont purchase any property or invest in bond then how much capital gain i have to pay , do we have to invest in bond and purchase a property within 6 months , can we invest 100% of total amount in bonds , is income from bonds taxable again or not. In the year 2006 I demolished the house and built a new house with 2600 square feet plinth area and at a cost of 23 Lakhs. + …)/7 (depending on year of improvements), long term capital gains = [420 L – (C*6.32/7+? My cost of acquisition was Rs 11,80,000, cost of improvement 270000, bought the flat in march 2001, sold the flat in aug 2010, @ Rs 3550000. only a commission of 71000 paid to broker as cost of transfer. No warranties, guarantees, promises and/or representations of any kind, express or implied, are given as to (a) the nature, standard, quality, reliability, accuracy or otherwise of the information and views provided in (and other contents of) the articles or (b) the suitability, applicability or otherwise of such information, views, or other contents for any person’s circumstances. I purchased a flat in 1996 for 40000rs and sold it in 2015 for 1200000rs I did some improvements on the flat and spend around 2,50,000/- but I do not have any receipt of the same can I include it in the cost of improvement. Commercial. Read after i’ll w’ll srprse now and thnk u. I purchased a plot worth rs 225000/- in the year 2004 and later on i constructed a bungalow over it in the same year, which cost me rs.1250000/-. I  purchased a PLOT in Nov 2000  for Rs 72, 000 & incurred lease rent Rs 25000 upto 2011.Now i want to sale the same PLOT in march2012 in Rs 10,00,000 . Presuming the valuation is 1000/-. registratin fee is 73350 I purchased an apartment in 2012 sep. builder delayed the possession from 2013 to 2014 Nov. this is still under construction. Sources said the revenue department has formed groups, constituted by officials, and has submitted feedback on circle rates across Delhi — agricultural and other land. it is a coommon doubt, The users should exercise due caution and/or seek independent advice before they make any decision or take any action on the basis of such information or other contents. 100/- then the indexed cost will be Rs. I sold the property on 5 jan 2011 for 10 lac Rs . Currently, I stay and use both the floors of this property. 2016. Whether I.T. capital gain 1789650, you save tax take the help of sec 54,54EC,54 F Circle Rate 2001. F.Y 2009-10, Dear Sir, Regards. i was invested as on 31/10/2007. Is long term capital gain applicable ?? I HAVE PURCHASE SHARES AT VALUE OF RS.1200000 RATE PER SHARE 30 PURCHASE DATE 12/01/2011. registry expenses bear by me rs 195400/-. indexed cost of improvement = 0, long term capital gains = 1,35,00,000-(82,95,000+0) = 52,05,000, tax = 20% of 52,05,000 = 10,41,000 sir, In my grandap property, J P Nagar 7th phase area, my mother got share 3.21 with parition 1973, further no any transaction in land. In case of property purchased before 01.04.1981 , the cost of acquisition will be mostly consist of cost of land ie. Now we want to buy two seprate residential properties by investing 100% share of each receipients seprate names. Sale value consideration 2500000 How to calculate the idexed value as the basis starts from 1981-82. Now I want to sell it say for Rs.15 lakhs. I want to pay LTCG taxes but what are the legitimate ways to reduce tax burden. indexed cost of improvement = (?*632/? Pl help me to calculate indexed inflation cost . I want to buy a residence for 2.20 crores. 2012-13? 2012. After death of C in 2005 B got share of his father per registered will.Now share in joint property of B is 15+25=40%. 3,480 per square meter. Housing.com shall not be liable in any manner (whether in law, contract, tort, by negligence, products liability or otherwise) for any losses, injury or damage (whether direct or indirect, special, incidental or consequential) suffered by such person as a result of anyone applying the information (or any other contents) in these articles or making any investment decision on the basis of such information (or any such contents), or otherwise. If I am selling a property woth next month, the Cost Inflation Index of the current year i.e. According to the above statement your idex will be 2009 not 1981 year index 100, pvt ltd can avail index cost capital gain COST INFLATION INDEX. We bought a plot in 1970 and then constructed 2 storey. And the long-term capital gains would be Rs 21.51, that is Rs 80 lakh minus Rs 58.49 lakh. Property rates & trends in Pitampura, Delhi. (2) without indexation (If permitted). You can check the circle rate on Delhi’s DORIS portal. I have market value estimated in 2009. However, in case of many capital asset the price rise is lesser than market price and in many cases it is higher. The redemption date was on 29th Nov. 2011. without doing indexation Here’s the Complete Details of NEW CIRCLE RATES – Category wise. I sold it in 2014 for 11 lac If I enter this deal and sell one of the two floors (i.e. It may also vary, based on the type and age of the property. What will be the inflation index for a property purchased by my father in 1956 for calculating capital gains tax in india? full consideration = 1,35,00,000 “In some cases, agriculture land falls under the land pooling zone and in the riverbed area, increasing chances of it being exploited for commercial purposes. Cost of improvement of house 1st & 2nd Floor in 2005-2006 Rs. I have spent in brokerage (in selling) etc expenses as 1.4 lacs. Thanks. All Rights Reserved. The Delhi Government had not published any circle rate in 2001. Multiply the product with the applicable age factor for the construction. Alternatively, you can follow the below steps to calculate the circle rate in Delhi. cost of acquisition = 2,970,00 + 40,095 + 22,562 + 27,563 (some components mightcost of improvement = 0 New Delhi (Delhi, India), January 15, 2016. Or is there any provision to avoid tax. So i should not attract any capital gain tax from above property as I am re-investing more money that capital gain! Circle Rate Agricultural Land; Rates of Registration Fee; List of Colonies for Circle Rates Circle rates for urban property (Delhi) 2007. We have an ancestral property in Chennai which is more than 40 years old. Kindly let us know how much tax liable to pay. Current guiadance value 1430 sft X 1765=2523950+ 1,00000 car parking= 2623950. Circle rates mean the minimum rate of property that is prescribed for a particular area. cost of acquisition = 63,00,000 19,80,000/- on 27/11/2009 car parking = 100000 My father purchased a land for Rs.11060.00 1968 and further build a residential house for both own use and rental purpose in the yr 1972 spending Rs.115000.00 and further did alteration in the yr 1995 spending 125000.00. How to arrive at tax liability, pl. Can I save capital gain tax by investing in capital gain Bonds ? Kindly show me the tax to be paid & calculation for it. I HAVE PUCHASED A FLAT IN 1987 FOR RS 277500 WHICH IS SOLD IN 2010-11 FOR RS 3105000 . 3. How do I calculate Long Term CG and tax outgo now. Stamp duty in Delhi varies between 4% and 6% of the transaction value, while the registration fee is 1% of the transaction value. I had purchased a plot which was registered in July,2003 but the payment was made in installment from Sept,2000 to July, 2003. what is index cost of acquisition??? T&R Required fields are marked *, Notice: It seems you have Javascript disabled in your Browser. what is difference between the sec 80DD and 80DDB ? Area 900 sq.ft. I have purchased a plot 1.6 Lakh in 1988 and constructed the house for 20 lakh in 1995-96. if purchasing a old house say 25 years old then how indexing will be done. stamp duty paid is 1795000 In Delhi’s New Friends Colony, for example, the market rate is lower than the circle rate. Sir, I hv sold a property i purchased in 2002 this year 2010. reply, I have sold property to Rs. Multiply the plot area with the applicable circle rate for the land in the respective locality. PLEASE HELP TO EVALUATE A RESIDENTIAL BUILDING CONSTRUCTED IN 1981 BY CII OR ANY OTHER METHOD. Circle Rate Agricultural Land; Rates of Registration Fee; List of Colonies for Circle Rates Circle rates for urban property (Delhi) 2007. Find Circle rate for all states of India like Kerala, New Delhi, West Bengal, Jharkhand, Andaman And Nicobar Islands, Chattisgarh Tamil Nadu, and Maharashtra. If I enter into this deal, will the consideration received by me from the builder attract long term capital gain tax? Cost Inflation index are used for computing indexed cost of acquisition. I had purchased a house in 1993 for RS. It is unclear, rather questionable, – how then the Index so fixed for FY 2016-17 could be claimed to have been computed strictly as per sec 48 ? The price per government records / registration price was much lower than the actual price paid to the seller (market value). Also I am about to get the registry done of another flat which I booked 3 years back. 7110/-. b) Therefore, if we consider that price of a capital asset has risen in tandem with base price rise, then if one want to sell an asset and replace it, the cost allowed even after indexation will be lesser than the price payable for new asset. The ground floor constructed in 1975 and 1st floor constructed in 1990-91. 10 x ?? Also, I have a flat purchased in 2005 by taking housing loan. You cannot file a revised return beyond one year from the end of the assessment year (or two years from the end of the financial year) except probably in response to a notice from the assessing officer. Circle Rate w.e.f. I have sold a flat in June 2010 and I want to calculate how much deduction can I get on that flat. If long term capital asset(other than a residential property), the gain can be invested in residential house(not necessarily occupied).See section 54F of the income tax act.See also section 54 in the case of residential property, Dear sir, In what scheme the sale proceeds of old flat can be kept both to mitigate capital gain as well as I can make the payment of instalments of new flat. Category E Colonies in Delhi. 785/-. 1. I ALSO PAID 3 lacs of interest during ownership period for the home loan. mt and in year 2016 covered area 70sq. Land development on the same year = Rs 2000.Further i have constructed a house for 7.2 Lakhs during 1990-1991. We have compiled a comprehensive list of 2600+ colonies of Delhi covering their categories (A to H), Ward Names and Zones as per MCD database. Multiply the plot area with the applicable circle rate (in Rs/sq metre). please let me know wether i am applicable for tax payment or not under LTCG or STCG. I purchased a flat in Oct 2007 for Rs 22 lacs + 2 lacs of stamp duty + 40,000 brokerage. 10lac plus. Governor of the National Capital Territory of Delhi hereby revises and notifies, the minimum rates (Circle rates) for valuation of lands and immovable properties in Delhi for the purposes yards… plz tell me whether the capital gain on the house sold by me can be adjusted against the plot which i bought 2 months back or not. Name-B sold it in 3,00,00,000 Purcahsed Property on 31 Dec 2009 @ 700000/- including all stamps and other exp. thereafter the project was delayed. Could you please advise LTCG liabilities for us? These circle rates are based on the type of locality within Delhi. Brokerage Commission Paid =Rs 5000.00. Find Circle rate for all states of India like Kerala, New Delhi, West Bengal, Jharkhand, Andaman And Nicobar Islands, Chattisgarh Tamil Nadu, and Maharashtra. Cii applied on sale of commercial property. What will be my long term tax liability. I had purchased a property with small house in 1983 for RS.50,000. I built a ground floor in the year 1989 at a cost of 2,25000/-.

Dr Agarwal Reviews, Feeling Cold Down One Side Body, Ooty Temperature In January 2021car Compressor Function, Between Two Ferns: The Movie Watch Online, Devil In The White City Movie, Voxal Voice Changer Safe,