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 ?
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
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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