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Capital gain

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(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.
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CA ANUBHAV

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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..
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Nikhil Kaushik

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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.
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CA ANUBHAV

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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..
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
12 December 2018 oh sorry man. Yeah. Seems so.
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