Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

Do I have to pay capital gains tax if I sell my website?

T S Khurana | Answer |Ask -Follow

Tax Expert - Answered on Oct 05, 2024

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more

Question by Vdn on Oct 04, 2024Hindi

Money

If i sell my site this year bought in 1989, hw much capital gain tax i have to pay

Ans: 01. Any gain arising from sale of site shall be Long Term Capital Gain.
02. You may opt any of the options (in case of Long Term Capital Gains), as under :
(01). Tax Rate 12.50% without indexation OR
(02). Tax Rate of 20% in case of Indexation.
You may calculate your tax liability under both options & may opt for the tax regime, where tax liability is minimum.
Most welcome for any further clarifications. Thanks.

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.

MoneyReply

You may like to see similar questions and answers below

Sanjeev Govila |458 Answers |Ask -Follow

Financial Planner - Answered on Feb 08, 2023

Question by Rajagopalan - Feb 04, 2023Hindi

Money

I have purchased a plot of land in April 1987 for Rs.46000. I completed ground floor construction of my house in Oct 1990 with a total cost of Rs.21600 and completed the upper floor construction in May 1999 at a cost of Rs.600000. I propose to sell the property now for a total price of Rs.1cr. What will be my Capital Gain tax liability

Ans: Your long term capital gains (LTCG) would need to be calculated based on your indexed cost of acquisition of plot, construction and any improvements or alterations done by you of a permanent nature. For doing this, your original costs, inflated by the CII (Cost Inflation Index) as given out by the Govt from time to time is to be used.

The current CII is available from 2001 onwards, while your purchases relate to much earlier. There are ways of handling this including a valuation to be done by a competent professional.

I would recommend you to approach a Govt certified valuer or a CA to evaluate the LTCG in this case.

Mihir Tanna | Answer |Ask -Follow

Tax Expert - Answered on Jul 08, 2024

Question by AnupG - Jul 01, 2024Hindi

Money

Hi have purchased a Site on 2011 & we sold on 2024 Feb. Against the income Whether we have to purchase a site or house property to avoid CG Tax?

Ans: Section 54F of the IT Act allows an exemption on capital gain from the sale of any property other than a residential house wherein Taxpayer should invest the net sales amount of the old property in purchase of a new residential house.

Milind Vadjikar |943 Answers |Ask -Follow

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

Asked by Anonymous - Oct 24, 2024Hindi

Money

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;

Mihir Tanna | Answer |Ask -Follow

Tax Expert - Answered on Nov 14, 2024

Question by Atul - Nov 06, 2024Hindi

Money

I had purchased row house @ Rs. 6 lack in 2003 now I am going to sale it @ Rs.35 lack in 2024 how much capital gain tax, I have to pay..

Ans: If house is acquired in FY 2003-04 for 6 lacs, indexed cost of Rs.1998195 is likely to be beneficial. If said is transferred in FY 2024-25, tax will be around Rs.3 lacs (plus applicable surcharge cess)

You can also calculate the same from income tax calculator available at https://incometaxindia.gov.in/Pages/tools/indexed-cost-of-acquisition-or-improvement.aspx

Latest Questions

Prof Suvasish Mukhopadhyay |341 Answers |Ask -Follow

Career Counsellor - Answered on Jan 30, 2025

Asked by Anonymous - Jan 17, 2025Hindi

Career

I have joined KEA SECOND ROND at St Johns BGR. Weather I am eligible to participate in AIQ third round also how much penalty I should pay at KEA

Ans: Search thoroughly in net, you will certainly find your answer. Best of luck. Professor.........................:)

Prof Suvasish Mukhopadhyay |341 Answers |Ask -Follow

Career Counsellor - Answered on Jan 30, 2025

Asked by Anonymous - Jan 18, 2025Hindi

Career

Hello, I'm about to finish my third year in b.a. in economics, I want to earn money with a settled job for my parents. I'm confused rn, I want to prepare for SSC CGL, and earn good, but I fear of taking a gap after my graduation, since my college is very strict towards attendance and load is too much thus I don't want to go there again for my pg, idk if I should do private MBA or ma in economics or any other diploma in computer related or finance related course while simultaneously doing my preparation since I don't want to do nothing while sitting at home.(Btw I'm from Agra and it's getting hard for me to find good college where I can do my Master's in economics non-regular mode in reasonable fee)

Ans: Search thoroughly in net with more time, you will certainly find your solution. Best of luck. Professor.........................:)

Prof Suvasish Mukhopadhyay |341 Answers |Ask -Follow

Career Counsellor - Answered on Jan 30, 2025

Asked by Anonymous - Dec 22, 2024Hindi

Career

hello, I have done my MBBS from Bangladesh in 2023 and have completed my internship also in Bangladesh in 2024. Now I want to pursue for my job in UK for which I have to give plab exam so I want step-by-step guidance how I can apply for that and where are the step 1 and step 2 exam going to be conducted.What are the Requirements for the exam ?

Ans: Please communicate with the appropriate authority who conducts the examination for giving you the opportunity to do job in UK. Best of luck. Professor..................:)

Shalini Singh |144 Answers |Ask -Follow

Dating Coach - Answered on Jan 30, 2025

Asked by Anonymous - Jan 30, 2025Hindi

Relationship

I am a 45 year old man. My problem is that I can't look people in the eye and talk. My strict upbringing may have made me an unnecessarily polite and timid person. I cannot exercise my authority at work when necessary. How do I get out of this personality?

Ans: it is great you know you need to work on yourself - join public speaking sessions, work on your confidence , know that saying a no is not being rude - this will require you to do a lot of reflection and talking to yourself - all the best.

Prof Suvasish Mukhopadhyay |341 Answers |Ask -Follow

Career Counsellor - Answered on Jan 30, 2025

Asked by Anonymous - Dec 05, 2024Hindi

Career

Hi Sir, My Son is studying in 11th std with PCMCs and preparing both for NATA and CET. He was an average student in tenth scoring 55%, we are hoping for better performance in his 12th board. Currently we are staying in Bangalore. We need your suggestion in choosing between BArch or BE (Civil/Mech/Electrical). Which one will be better for him in difficulty level, fee structure, future job prospects and if he wants to Masters, whether he can continue in India or abroad. If abroad which countries or university are good for him for masters. Thank you

Ans: In B.Arch difficulty level is less but he must be good in drawing. A candidate who is bad in drawing can't be an Architect, even if he becomes he will fail in professional life. BE (Civil/Mech/Electrical) needs good knowledge of Maths and Physics. From his 10th score it seems to be he is an below average student. Fee structure is mostly same in both. For Masters we can think afterwards, no question of long term planning. In abroad always USA is the best for Engineering. Best of luck. Regards. Professor....................................................:)

Prof Suvasish Mukhopadhyay |341 Answers |Ask -Follow

Career Counsellor - Answered on Jan 30, 2025

Asked by Anonymous - Nov 06, 2024Hindi

Career

Hi , I am planning to pursue a master's degree from Australia in 2025 Feb intake and got my education loan sanctioned from a bank too, but the university requires some interview process for confirming my admission and the interview is done now and it's been more than 1 month I didn't got any reply from the University of whether my admission is confirmed or not , because of the new law of student capping in Australia they are putting it on hold and now I have a offer letter from other university too but the thing is my sanction letter is already used for my first uni and I want to ask is there any way that I can use the same sanction letter for other university too or any other alternative for this that what should I do in this situation

Ans: You contact the admission cell of the second university and explain everything very honestly. Tell them the same story what you narrated here. I think they will consider your case with sincerity. Best of luck. Professor.......................................:)

Shalini Singh |144 Answers |Ask -Follow

Dating Coach - Answered on Jan 30, 2025

Asked by Anonymous - Jan 30, 2025Hindi

Relationship

What to say if my boyfriend asks who is more important to you , me or your friends? When I say everyone has some importance in life, he gets offended. What should I say

Ans: Ask him the reason or asking this question, what is his motive to ask this question. Your response to him is as it should be, but learn why did he ask you the question.

It is ok to ask questions, doing this will help you give apt responses. It also shows your investment in a discussion as this.

Prof Suvasish Mukhopadhyay |341 Answers |Ask -Follow

Career Counsellor - Answered on Jan 30, 2025

Asked by Anonymous - Nov 08, 2024Hindi

Career

I am having 10 years of experience and due to my health I had to left my job in between and without any offer in hand. Now, Despite applied indefinitely I am not getting much response. I have started my own website and working on the same providing some insights on it. As I am market research professional. So, What should I do to tackle this situation and let me tell you I have done Bcom(H) & MBA. How to approach in a new way for interview or how should I upskill despite taking change needs of job due to AI.

Ans: AI doesn't have relation with your profile. You try to connect more people in LINKEDIN and search new jobs with your experience and skill. Get your BIO DATA designed by some professional. It will help you. Best of luck. Professor.........................:)

Prof Suvasish Mukhopadhyay |341 Answers |Ask -Follow

Career Counsellor - Answered on Jan 30, 2025

Question by Unnikrishnan - Jan 30, 2025Hindi

Career

Dear Sir My son is studying EEE , and taken electrical major. He would like pursue his career in LEED or QAQC can you please advise what extra courses he need to undertake

Ans: Only MBA, that's all. Best of luck. Professor..................:)

Ravi Mittal |516 Answers |Ask -Follow

Dating, Relationships Expert - Answered on Jan 30, 2025

Asked by Anonymous - Jan 29, 2025Hindi

Relationship

Im afarid to express my love to a women. She is very good looking and much more than that she had a good character. But the main problem arises is she is 171cm and I'm 165cm. I'm afraid may be I will get rejected. I love her so much. Should i I leave her and move on. And one thing also i don't even talk to her, I'm afraid to talk. Can you give some tips to talking also

Ans: Dear Anonymous,
I understand your concern but how will you know whether height is an issue for her until you go ahead and speak to her? If you are worried about confessing your feelings for her directly, it's best you take things slow. Anyways, people are more likely to take such confessions on a positive note if they know the person.

You can start with a Hi, followed by letting her know that you have seen her around quite a few times. You can ask her what she does, and other general questions. Don't do it all in a single day; try building rapport slowly. This way you won't be putting too much pressure on yourself or on her.

Best Wishes.

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Video Reply
Audio Reply

WhatsApp
Facebook
Twitter
Copy link

Delete

Close

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus

Sign up

email

uname

mobile no

Country Code

Mobile number

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

LOGIN

x