I purchased a land in 1992. I need to sell it in this financial year 2018-19.
- What will be LTCG.How it is to be calculated. Shall i divide the purchase value by 100( indexation of latest base year) X indexation cost of 2018-19. in 2017=18 it was 272.
- In which ITR form LTCG is to be declared at the end of FY 2018-19.
- I am a pension holder and I have no professional income. So I pay income tax during filing of return. I have so far filed ITR-1. I don\’t pay advance tax. In case i have to pay LTCG, then can i do it during filing of return as I did earlier.
It is hard to explain or calculate for each individual. However, by referring the below IT Dept guidance, you can do so on your own.