How much LTCG tax payable.
Situation : I have an enquiry and request you to clarify.
I had purchased two Flats (A,B )both registered before 4 years at different locations in Joint names as follows:
1. Self retired senior citizen no taxable income.
2. Wife housekeeping no taxable income.
3. Son salary taxable income 20% bracket.
Because of personal reasons, flat A deemed rented is sold during FY 2017-18 after 4 years AND now I want to sell flat B self occupied before March 2018.
Whether both flats are considered as LTCG or not.
Profit on both flat is estimated around 9 lacs, I want to know our individual LTCG tax liability for both flats payable @ 20% with indexation or without indexation.
Hope you will help at your earliest.
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