Capital gain
This query is : Resolved
Kedar Shukla
(Querist)
12 December 2018
My father had purchased an urban agriculture land in 1975 for Rs. 6500/-. The same is transferred to me in financial year 2005-06. I have sold 50% of that land in financial year 2010-11 for Rs. 7500000/-. What will be the capital gain.
CA ANUBHAV
(Expert)
12 December 2018
take value of land as on 01.04.1981 for 50% share and apply indexation on such value then subtract the indexed cost from sale price balance will be capital gain if positive else no gain..
Nikhil Kaushik
(Expert)
12 December 2018
dear Anubhav, please note that CFI has been updated and now value as on 1 April 2001 is applicable.
CA ANUBHAV
(Expert)
12 December 2018
Brother its for current FY and in this case querist has asked for FY 2010-11... I think his case has been selected for 148..
Nikhil Kaushik
(Expert)
12 December 2018
oh sorry man. Yeah. Seems so.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
