CGT

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Purchase plot in May 2016 (befor july 1st 2016) for 80 lacs and sold in Jan 2017 for 120 lacs
paid adv tax 236 80k
how much CGT i Have to pay ?
will tax paid 236c adjust able in case of falt rate of 5% as plot purchased before 1 jluy?

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Dear Hasan,

Yes , 5 % of your gain should be paid as tax if you have declared it. Yes Advance tax is adjustable.

Jazak Allah

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Dear Hasan,
your advance tax would be adjustable to your CGT declaration which would be 5% of the net gains on the property declaring your profits and initial investment white.
regards,
Umer

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