Capital gain taxation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 July 2014
on person who sell the capital asset(land) in the year 2011 purchased on 1980 but he didnot invest that amount in any capital investment schemes to till date, please suggest me to whether his capital gain income comes under indexation or not? if comes under indexation please suggest me process of computation, or if not suggest that computation for taxation
04 July 2014
when it was purchased is not mentioned.
Rupesh Jain
(Expert)
04 July 2014
you have tot take value o 1.4.1981 and index of selling year and buying year take
then you can calculate the profit.
LOng term capital gain = Sales value - Purchse price/value on 1.4.1981 X selling year index/Buy year index= LTCG
then you can calculate the profit.
LOng term capital gain = Sales value - Purchse price/value on 1.4.1981 X selling year index/Buy year index= LTCG
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