Calculating my tax liability on a property transaction ?

POSTED BY ketan ON October 9, 2013 1:24 pm ONE COMMENT

Can anyone help me with calculating my tax liability on a property transaction?

Property Bought for – Rs.12,00, 000/-
Property Bought On – June 16, 2012

Property Sold for – Rs. 13, 00, 000/-
Property Sold On – Oct, 2013

Regards,

Ketan More

 

One reply on this article “Calculating my tax liability on a property transaction ?”

  1. ashalanshu says:
    October 9, 2013 at 3:01 pm

    Dear Ketan, the 1L Rs. Gain amount is Short Term Capital Gain amount, hence it ‘ll be added into your income from all sources and ‘ll be taxed at your slab rate.

    Thanks

    Ashal

    Reply

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