Capital gain on sale of land as on 2023

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This discussion addresses the capital gains tax calculation for a land sale completed in December 2023. The original purchase was in 1987 for a nominal amount, with significant improvements made over several years totalling Rs. 450,000. The sale price was Rs. 720,000. It's noted that supporting documentation, including bills and bank payment details for expenses, is crucial for claiming applicable deductions.

omnath

omnath (Querist)
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07 August 2024 Mr. A sale of land as on 15/12/2023 for RS.720000/- He Purchase of the land as on 10/10/1987 . cost of RS . 1500/- He spent and for Improvement for varies year 1990, 1994, 1998, 2012, 2018
Rs. 450000/- He get this amount applicable on working capital gain

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