Hi Friends, please guide me how to arrive the Long term capital gain on sale of property below are the details availble from assessee.
1. Land measuring 1200 Sqft (Got it from Father as a gift for Marriage) on January'2009.
2. Building Construction started on April'2010 and ready for residential for March'2011 (Funds from Bank Rs. 33L
3. Cost of improvement (getting 3phase EB connection and other small works in building 1.25L March'12).
4. Cost of Sales 2% brokerage on Sale Value.
5. Sale Value 1.18C
I need to know how much is the capital gain for the above Sale of Asset.
Kindly help me on the same.
Thanks in advance.
CAclubindia
