Capital gain

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Shikha gupta (Querist)
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14 July 2019 Hi

How should i calculate the Capital Gain for the property sold in 2019 and purchased in 1998, how should i do indexing of the same

my aunt have purchased house in 1998 for 750000/- and sold in 2019 for 1900000/-

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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14 July 2019 Transaction is long term capital gains transaction. You can claim indexation benefits.

You need to find out the Fair Market Value of the Property as on 01/04/2001 since the base year is 2001.

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Shikha gupta

Shikha gupta (Querist)
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15 July 2019 thanks.. so i should take a base year and index cost of 2001 for the plot/ property purchased in 1998? in case tehre is no capital gain then also i have to file ITR 2?

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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18 July 2019 Yes, for both queries

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Shikha gupta

Shikha gupta (Querist)
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19 July 2019 thank u so much for the help

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