CAPITAL GAINS TAXES

Find below two major mobile applications created by the Income Tax Department of India. 


Aaykar Setu Mobile App: Launched by the Income Tax Department in 2017, Aaykar Setu provides users with quick access to all income tax-related services.

 You can also use this mobile app to calculate the taxable capital gains amount.


 mobile app comes with various tax tools that allow users to calculate tax amounts based on their financial circumstances. 


The best part is that the Aaykar Setu comes with a Live Chat feature that helps users get in touch with tax experts and seek assistance if required.


 The Chatbot available in the mobile application provides automated answers to queries with detailed user guides.

  • HOW TO CALCULATE CAPITAL GAINS:
  • SALE VALUE LESS COST OF ACQUISITION AND DEVELOPMENT AND IMPROVEMENT OF THE FLAT  68 LACKS LESS COST OF ACQUISITION AND IMPROVEMENT. NEARLY 30 LACKS SO CAPITAL GAIN LONG TERM IS ONLY ON 38 LACKS EVEN AT 20 %
  • https://www.magicbricks.com/blog/how-to-calculate-capital-gains-tax-on-property-in-india/124146.html
  • TDS deductible- A buyer is liable to deduct 20% tax deductible at source (TDS), which is increased to 30% in case of long term capital gain. An NRI can be exempt from paying the capital gains tax under Section 54. The exemption is only available if its long term capital gain.

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