Hello CA Club India.

I purchased a piece of land through a developer for X Lacs a few years back. The piece of land (plot) was registered in my name by the Sellers who were the direct owners of the piece of land, not the developer. The amount in the registered deed is Y Lacs which is less than X.

The developer has provided receipts for the X Lacs and given details of plot number etc. but as they are the developer they didn't show the payment made to the direct owners.

Now, as I am selling the plot, my CA is telling me that the cost would be Y not X which was paid to the developer. The developer received X Lacs which included developing the land (roads, demarcation, water supply, electricity etc.) However, as there is no indication of direct payment to the land owner, the CA is not able to provide me a plan for the LTCG.

How do we compute the LTCG in this case? Based on X Lacs which was actually paid by me or Y Lacs for which the registration was done.

Regards.

Hi

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Sir
My relative sold a land for 1400000 on12.8.25 purchased on 5.1.2007 @ 5100000/- He again purchased 2 vacant land 1) for Rs 2800000/- 2) 2495000/- how to calculate LTCG please sir any taxable amount is there ? how much ?

With Regards

S M pasha

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For FY2025-26
I sold my residential property for a consideration of 100,00,000 (1 Cr) on 01/07/2025.
The purchase cost of this property was Rs 20,00,000 in Year 2008-09.
Indexed cost of this property is approx. 60,00,000

Thus LTCG after indexation was approx 40,00,000 (100,00,000-60,00,000)

After the sale, I purchased another residential property on 01/09/2025 for a price of 41,00,000 (all inclusive) to take benefit under section 54

Thus my indexd LTCG after section 54 should be 0 (40,00,000 -41,00,000). and I am being charged zero LTCG tax (the lower of CG tax of the two options (12.5% without indexation and 20% with indexation))
My income from other sources was 25,00,000 during the year
However, while calculating my final tax liability, the portal adds the unindexed LT capital gain of Rs 40,00,000 to my other sources income of 25,00,000 and puts my taxable income as 65,00,000 which triggers the surcharge at 10%. is this surcharge correct? is this the intent of indexation relief given by govt on july/aug 2024?