ANTARYAMIROY
3 साल 10 महीने पहले
Re: Capital gain tax on sale of immovable properties.
Suggestion:
To tax gains on sale of immovable properties @5%.
Calculation of capital gain:
For self-acquired properties sale value minus cost of acquisition plus registration charges and any improvements made thereon by cheque.
For inherited properties the cost to be taken at “nil”.
Advantages:
1. Do away with complicated calculations and litigations. It does away with a number of cumbersome provisions.
2. Tax collection jumps manifold without much effort and there’s also an element of equity.
Other points:
1. Buyer pays around 7% as registration fees.
2. Seller pays nothing.
3. TDS etc finally does not come in as tax collection as it gets adjusted on some provision or the other.
4. Tax administration will be easy and simplified.
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