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capital gain

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(Querist)
18 February 2017 if I construct One flat for rs 1lakh in 1980 and sale it for rs 33 lakhs in Nov 2016. what is tax treatment
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Vaibhav

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Vaibhav (Expert)
19 February 2017 what is purchase value of your flat
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
18 July 2024 To calculate the tax treatment of a flat's capital gain, calculate the sale consideration and cost of acquisition, which is Rs. 33,00,000. Adjust the cost of acquisition for inflation using the Cost Inflation Index. The resulting capital gain is Rs. 21,75,000. The long-term capital gains tax is 20%, and consulting a tax advisor is recommended.
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