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Capital Gains

This query is : Resolved 
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(Querist)
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
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CA Jeen paul

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CA Jeen paul (Expert)
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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