Calculation of ltcg
This query is : Resolved
07 January 2013
Sir,
Please help me in calculating the LTCG on the basis of the following information.
1) Date & Deed value of Land Purchased --- 15/12/1988 & Rs 10400/-
2) Category of the Land --- Non Agricultural.
3) Amount invested for the development of the land and some minor construction - Rs 1.5 Lac.
4) year of improvement - May 1990.
5) Land acquisition done & compensation money paid by state govt - 22/03/2012 & Rs 10,96,673/-
6) Investment in capital gain bond & purchasing a agricultural land - NIL.
i would be very great full, if somebody kindly give me a way out.
thanks in advance
Please help me in calculating the LTCG on the basis of the following information.
1) Date & Deed value of Land Purchased --- 15/12/1988 & Rs 10400/-
2) Category of the Land --- Non Agricultural.
3) Amount invested for the development of the land and some minor construction - Rs 1.5 Lac.
4) year of improvement - May 1990.
5) Land acquisition done & compensation money paid by state govt - 22/03/2012 & Rs 10,96,673/-
6) Investment in capital gain bond & purchasing a agricultural land - NIL.
i would be very great full, if somebody kindly give me a way out.
thanks in advance
CA PARAS BAFNA
(Expert)
07 January 2013
1. Sales Consideration...........1096673
2. Indexed Cost of Acquisition 10400x785/161=50708
3. Indexed Cost of Improvement 150000x785/199= 597709
4.Total Indexed Cost 2+3=648417
5. LT Capital Gains 1-4 = 448256.
1. Sales Consideration...........1096673
2. Indexed Cost of Acquisition 10400x785/161=50708
3. Indexed Cost of Improvement 150000x785/199= 597709
4.Total Indexed Cost 2+3=648417
5. LT Capital Gains 1-4 = 448256.
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