Capital gain

14 July 2019

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 (Expert)
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.

Shikha gupta (Querist)
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 (Expert)
18 July 2019
Yes, for both queries

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

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