Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 October 2016
Sir I Have One doubt In Capital Gain.When assessee Purchase The plot in 2005 @Rs.5Crores And He Spent In Charges At 10% At is value.After the One Year He Construct the House For Rs 1crores.This House to Be sales In 2016 @Rs.8.5 Crore And He spent it 2% on brokerage.
How Calculate the capital gain and Cost of acqusition?.
How Calculate the capital gain and Cost of acqusition?.
19 October 2016
Full Value of Consideration will be Rs. 8.5 Crores
From this reduce the following
a) Expenses incurred on transfer: 2% Brokerage
b) Indexed Cost of Acquisition: 5 Crores + 1 Crore. the 10% spent should be added only if its capital in nature.
Index the cost at respective Indexation factors
What remains is the capital gain.
From this reduce the following
a) Expenses incurred on transfer: 2% Brokerage
b) Indexed Cost of Acquisition: 5 Crores + 1 Crore. the 10% spent should be added only if its capital in nature.
Index the cost at respective Indexation factors
What remains is the capital gain.
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