Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 July 2014
Please Help,
i have purchased house in 1989 for Rs. 195000/- and now in 2012 i have constructed for floor's and i sold one in February for Rs. 3800000/- and construction cost of that floor is Rs.1200000/-, what is the calculation of capital gain.?
i have purchased house in 1989 for Rs. 195000/- and now in 2012 i have constructed for floor's and i sold one in February for Rs. 3800000/- and construction cost of that floor is Rs.1200000/-, what is the calculation of capital gain.?
25 July 2014
Cost of Construction * Index Cost of sale year/Index cost of construction year
1200000*785(2011-12)/172(1989-90)
= 5476744/-
You sold at lower price, so no capital gain.
1200000*785(2011-12)/172(1989-90)
= 5476744/-
You sold at lower price, so no capital gain.
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