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Capital gain

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Ankur Trivedi (Querist)
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05 March 2013 I had purchase flat in Feb-2010 for Rs. 10,00,000 + Stamp Duty Rs. 59000 + Cost of Improvement Rs.50000.
I had sold it in May-2011 through Power of Attorny. Sale amount is Rs.750000/- by Cheque.
Please guide me for calculating capital Gain/loss amount.

thanks & Waiting for your reply.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 March 2013 dear ankur,

its a short term capital loss transaction.

subtract from the cost cost of acquisition and cost of improvement ( Rs 10,00,000 + Rs 59,000+Rs 50,000) the sale consideration(Rs 750000). The amount arrived at is the short term capital loss.

Ankur Trivedi

Ankur Trivedi (Querist)
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06 March 2013 This Capital Loss Amount i have to saw in my ITR or Not. If yes, then how can i show in my ITR. If i show the loss in my ITR then have i face any problem in future during IT Assement.

Thanks & Waiting for your Reply.

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