Wednesday, July 31, 2013

Capital Gain Tax Calculator (Sec. 54,54B,54EC,54F)


on Wednesday, July 31, 2013

We have prepared a online Capital gain tax calculator ,which will not only helps you in calculating the Capital gain tax but also suggests you ,how you can save the capital gain by using the exemption as per section 54,54B,54EC and 54F .
How to Use.
Very simple ,Fill yellow cells given in the excel sheet below one by one and check the results .Download of this calculator is not available at present as this is under beta stage.Fill Date in MM/DD/YYYY it will be converted in to DD/MM/YYYY automatically.
Feature of The calculator :

  1. This calculator can be used to calculate capital gain amount both long term and short term .
  2. This calculator show you Tax liability on the basis of your capital gain amount.
  3. This calculator also provide you brief suggestion ,how you can save capital gain amount.

Disclaimer:We have tried our best to provide you correct calculation ,However we are not responsible for any errors in it. Al are invited to share error in calculator or ask for clarification on capital gain in comment section.



Brief description of Section 54,54B,54EC,54EC is given below for your ready reference.calculator may take time to open , if not working then visit this link (online Capital gain tax calculator)





Long Term Capital Gain - Exemption
a.
Who can claim exemption
Ind/HUF
Individual /HUF added by Finance Bill 2012 wef fy 12-13
Any person
Ind/HUF
b.
Eligible assets sold
A residential
House property
(minimum holding period 3 year)
Agriculture land which  has been   used   by   assessee himself or by his parents for agriculture purposes during last 2 yrs of transfer
Any   long-term capital assets (minimum holding period 3 years) 
Any long term asset (other  than  a residential  house  property ) provided on the date of transfer the taxpayer does not own more than one residential house property from  the assessment year 2001-02 (except the new house)
c.
Assets to be acquired for exemption
Residential house property
Another agriculture land
(urban or rural)
Bond of NHAI or
REC
Residential house property
d.
Time limit for acquiring the new assets
Purchase :1 year back or
2    y e a r   f o r w a r d , Construction:   3   year forward
2 yrs forward
6 months forward
Purchase :1 year back or 2 year forward, Construction:
3 year forward
e.
Exemption Amount
Investment in the new assets or capital gain, which ever is lower
Investment in
the agriculture land or capital gain, which ever is lower
Investment   in   the new assets or capital gain,  which  ever  is lower (Max. Rs.  50
Lacs in Fin. Yr.)
Investment in the new assets / Net
Sale consideration Xcapital gain
f.
Yes
Yes
not applicable
Yes

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  1. when assets is purchase before 01.04.1981 then how to use calculatar

    ReplyDelete
    Replies
    1. In purchase date fill 01.04.1981 and in amount fill higher of following two

      1 actual cost of asset or
      2. market value as on 01.04.1981

      Delete
    2. HOW TO DETERMINE MARKET VALUE ON 01.04.1981

      Delete
    3. You can contact certified valuation experts

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