Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 September 2012
i have a ricco undeveloped land. purchase in june 2004 in 1.5 lakhs. i sold it in august 2012 in 9 lacs. what amount capital gain taxable, capital gain calculation. and how get exemption from this capital gain
Amol S Joglekar
(Expert)
18 September 2012
The inflation index for 2012-13 is not yet published. Assuming it to be 825.... Indexed cost of acquisition is 257000 (rounded off), long term capital gain is 900,000 - 257000 = 643,000. You may take the benefit of 54F or 54EC
Pankaj Gupta
(Expert)
18 September 2012
Cost inflation index for fy 12-13 has been notified. It is 852.
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