Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2014 purchased land in 2008 Rs. 28400/=. Cost of improvement in 2008 is Rs. 100000/= Sold in 2012 Rs. 1000000/= so, what is the Capital Gain Tax to be paid ?

Sandeep Dharar

Sandeep Dharar (Expert)
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08 March 2014 It should b LTCG:-

Sale Consideration 10L
Less: Exp on transfer NIL
Net Sale Consideration 10L
Less: Index cost of acquisition
(Cost of X Index of transfer yr/
acquisition index of acq. year) xxx

Less: Index cost of Improvement
(cost of Imp. X Index of transfer yr/
Index of imp. yr. xxx

LTCG xxx

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