Capital gain
This query is : Resolved
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
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.
.
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.
.
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
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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