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.
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..
CAclubindia
