Capital Gains

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Stanley Ravi (Querist)
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28 February 2011 My mother disposed some ancestral property.

What are the investment options?

How can Capital Gains tax avoided?

How is capital gains calculated?

Thank you.

Stanley Ravi

CA Jeen paul

CA Jeen paul (Expert)
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03 March 2011 assuming it is house

capital gain calculation:

full value of consideration
less: exclusive expenditure for sellig property
less: Indexed cost of acquisition
less: eligible deductions U/s 54,B,C ect,
= long term capital gain

Indexed cost:

assuming the asset is the property of the assesee before 1.4.1981 opt for actual cost / fair market value. take index of 1.4.1981 or the year of possession by the assessee(if after 1981)

deduction buy or cunstruct a house or invest in specified bonds or deposit in a bank

you can avoid capital gain by investing in another property or making deposit or purchasing specified bonds

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