CA Urvi Gandhi 22 May 2019
Around 20k per person. If you need further clarification/details, please reach me on 9967694668 or urvi@fintaxconsulting.in
CA Shrinidhi Rao 22 May 2019
Rs 19940 each. You can reduce your tax burden to zero by making proper tax planning.
CA Naman Maloo 22 May 2019
It is around 20k per person but you can plan it.
Sunny verma 24 May 2019 The property is divided into three portions , one portion is of My wife and his brother, this portion they got after the death of her mother around 5 years back , her mother get this property from her mother in law many years back .
Now the property was sold last year and sell money were devided in to three owners .
To sell the portion alloted to my wife and his brother, My wife gave power of attorney to his brother to sell and use the money recive, however the money received(1/3 of total property sell amount) to my wife and his brother in equal amount in there respective bank accounts , my wife transfered that amount to his brother's bank account as she dont want any money from this property(she already gave power of attorney to his brother to sell and use the money received) .HIs brother purchased a new house from this money.
Now i want to know is there any capital gain tax need to pay by my wife and if yest how to calculate the tax amount.
Value of house in 2001 was Rs.34,33,000 and sold in 2018 for RS.99,00,000,
CA Brigit Peter 24 May 2019
The value of your property as per Income tax in year 2018 is Rs. 96,12,400 and the total capital gain arises on the sale of your property comes to Rs. 2,87,000. If divided in 3 parts then each part of taxable capital gains comes to Rs. 95,600 approx. In case any further clarifications required then please reach me at 8447557316 or email me at brigitpeterca@gmail.com
Sunny verma 24 May 2019 one person need to pay 20% of Rs.95,600?
T&C apply