Capital gain calculation

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This query is : Resolved

Nitin Kadam (Querist)

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)

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

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