Capital Gain

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Ishant agarwal (Querist)
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03 June 2009 If i sold a property at Rs. 702949 in 2009 and this amount i invest Rs. 700000 in RCE Bond in 2009 what Will Capital gain in 2009 ?
and What section Apply ?

chetan soni

chetan soni (Expert)
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03 June 2009 Following will be the conputation for capital gains

sales consideration Rs. 702949
less : indexed cost of acquisition
(say cost of acquisition is Rs. 5L for f.y. 2000-01)
so index cost will be 5L/406*582 = 716749, restricted to sales consideration i.e 702949.00

So capital gains chargeable Rs. Nil

Then there is no need to invest in capital gains bonds.

Just put actual cost of acquisition in the formula, you will the capital gains.

Ishant agarwal

Ishant agarwal (Querist)
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03 June 2009 Sorry in This case Capital Gain Is rs. 702949 After Indexation

Ishant agarwal

Ishant agarwal (Querist)
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03 June 2009 Mr. Chetan are u there

chetan soni

chetan soni (Expert)
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03 June 2009 In that case total 7L will treated as exemption u/s 54EC & the amount of capital gain will Rs. 2949.00

Just make sure you deposit the total amount with 6 months from the date of transfer of capital assets.