Capital gain calculation

This query is : Resolved

Nitin Kadam (Querist)
Follow

25 June 2012 Dear Sir / Madam

I was purchase flat under the cidco scheme in year 2003. and sell in the year 2012

how to calculate Cost of Index if i paid amt in different dates
on booking i was paid 15000 in 2002, then i paid 30,000 on the demand of cidco in 2003, my bank loan was pass in year 2004 i make remaining payment of rs 365000 in year 2007 i got the possion of my property and value of property was Rs. 496000 at that time is book and accourdingto that paid the stamp duty and other expenses

kindly guide me regarding this problem

Thanks & Regards

Nitin kadam

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

26 June 2012 1. date of acquisition shall be date on which possession was acquired.

2. Cost of acquisition shall be Rs. 4,96,000.

3. The asset is a long term capital asset (held for more than 36 months) and accordingly long term capital gain shall arise.

4. Capital gain shall be computed as under:

Sale Consideration
Less: Indexed cost of acquisition

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Hanuma Yanduri

Jai Solanki

George Innocent

Ravikumar

sandhya.v

Subscribe Now

Capital gain calculation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

CA Final

Accountant

GST CONSULTANCY

GST CONSULTANT

Manager- Finance and Compliance