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Capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2013 I have sold my residential flat in F.Y 12-13 for Rs.25 Lkhs which was purchased in F.y 2001 for Rs.10 Lakh.& I purhcased new flat out of that How to calculate capital gain & how to show in IT return

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

03 August 2013
Capital Gains = (2500000-1000000x852/426)
(Purchased between 1.4.2001 to 31.3.2002)
.
Claim it against the column of exemption U/s
54 in Schedule CG to the extent of Capital Gains arisen.

.

Ganeshbabu K

Ganeshbabu K (Expert)

03 August 2013 full value of consideration 25 lakhs(A)
Expences on transfer xxxx (B)

Net consideration 25 lakhs(A)-(B)

(Assemed expenses nill)

(C)Less: Cost of acquisition after indexation
=10lakhs*852/406

So capital gain is =25 lakhs -2098522

Long term capital gain is =401478

Thanks & regards
ganesh babu k

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