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Milind Vadjikar  |943 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Oct 25, 2024

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more
Asked by Anonymous - Oct 24, 2024Hindi
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On 15.10.24 I have sold property for 1 .60 cr.., the property is 35 yrs old, how to calculate capital gains tax. Kindly advise

Ans: Hello;

The latest budget gives you two options:

1. 12.5% LTCG on 1.6 Cr minus cost of acquisition 35 years before.

2. 20% LTCG on the difference between 1.6 Cr and indexed cost of acquisition.

For this calculation it is advisable to approach a CA or a professional tax advisor who can also advise you ways to save LTCG tax payment through exempt investments permitted under income tax act.

Best wishes;
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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