Capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2012
i have given my land to a promoter and in exchange he will allot me a flat and pay cash RS.1200000/-. the land was purchased in 1976.
how to calculate capital gains and benefits under income tax?
how to calculate capital gains and benefits under income tax?
Dintakurthi Tirumala
(Expert)
15 March 2012
Total Sale Consideration is Rs.12,00,000+ Market value of the flat as on date of transfer of asset. Find the Indexation value of the land as on date of transfer of the asset. Long Term Capital Gain is= Total Sale Consideration - Indexation cost of the Land.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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