How much capital gain tax

Since the amounts and value involved is high, i suggested you have a one to one consultation in this matter. There are provisions in the act to save on tax . Please contact me. These matters are best discussed on one-to-one sessions rather than in a public forum.

Dear Sir,

Yes, all these cost can be deducted. 

This money can be gifted to your daughter. However you only have to pay taxes not your daughter. If you want your daughter to pay taxes, first gift the property to your daughter and then she can sale it.

Please feel free to revert in case you require further clarification. 

Thanks and Regards,
CA Abhishek Dugar

Dear Sir,

Yes you can very well deduct the the Indexed Cost of Acquisition from the Sale Proceeds, you can also deduct the Cost of Improvement, Registration Charges, Brokerage charges in order to save up on taxes.

The sale proceeds can also be gifted to your daughter before paying the taxes and your daughter can herself pay the taxes but the tax shall have to be paid in your name. So either you or your daughter can make the payment but the payment will have to be made in your name only.

Trust this clarifies your query. 

Please feel free to call/ get back in case of any further clarifications. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP

Dear Sir,

In your case there can hardly be any cost of improvement as it is a piece of land. The max improvement you would have done would be the Cost of Building a Safety Wall or something. 

For brokerage you would have a Bank entry proving the amount paid to the Broker, for Registration Charges you would have a bank Entry as well as the Challan Copy proving the amount paid to the registrar.

There is no such maximum limit to claim the expenses if you have actually incurred them and you have the proof.

There are a few other ways out to plan and save taxes but for that we need to understand your need and future plan in order to help you better.

Trust this clarifies your query. 

Please feel free to call/ get back in case of any further clarifications. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP

No, there is no upper limit specified but yes they should be reasonable and you should be able to substantiate the same by way of evidence if asked by the tax authorities.

Please feel free to revert in case you require further clarification. 

Thanks and Regards,
CA Abhishek Dugar