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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 October 2014 My father purchased a land in 1998 for rs.75000 and planning to sold it for rs.800000.please tell me the amount of capital gain.can he claim exemption by investing in land or construction of additional floor in existing house property.
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CA Parul Saxena

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CA Parul Saxena (Expert)
21 October 2014 Sales consideration...............800000
Less:-Indexed cost of acquisition
75000*1024/351...................218803
Capital gain...................581197

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