banner_ad

capiatl gain for sale of flat under PAGADI SYSTEM

This query is : Open 
Profile Image

Profile Image

(Querist)
17 August 2009 Dear Colleagues,

A person has sold flat which was under pagadi system purchased by his grand father 40 years back.has received rs.20 lacs as considearion.
how to calculate capital gains tax?

regards
c.a.paresh zatakia
Profile Image

CA KAMLESH INDERCHAND JAIN

Profile Image

CA KAMLESH INDERCHAND JAIN (Expert)
18 August 2009 the property is covered as ancestral property. so you are required to take cost of acquistion as value (Certified from registered valuer)as at 1/4/1981 as base & claim indexation over that value. 20 Lacs as sales consideration minus indexed cost of acquisition as calculated from above wil be your long term capital gain.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details