Capital gain calculation
This query is : Resolved
28 December 2017
HI,
Received a property (Shop) through will on 03/04/2001. The same property is sold on 03/10/2017 for 30,00,000/-. How would be the working for Capital gain tax?
Please guide.
Thanks in Advance.
Received a property (Shop) through will on 03/04/2001. The same property is sold on 03/10/2017 for 30,00,000/-. How would be the working for Capital gain tax?
Please guide.
Thanks in Advance.
29 December 2017
Cost of the shop is the 'cost incurred' by the previous owner. Index the cost by
applying the cost inflation index of the year of acquisition. Deduct the indexed
cost so arrived from the sale value. The resultant figure will be the Capital gains.
applying the cost inflation index of the year of acquisition. Deduct the indexed
cost so arrived from the sale value. The resultant figure will be the Capital gains.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Taxable or Tax exempt
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- Goods sold but invoice not issued
- GST rate and HSN code for sale of racing horses
- Condonation . E-Verification of last year return .
- Capital gain on sale and purchase of plot
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
