Capital gian

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2013 if my client purchase a flat 5,00,000 in installment of rs.12500 Quarterly and after 3 year he sold that flat at rs.10,00,000.
what is the index rate and what is purchase amount he clam for deduction.
and what type of gain is this long term or short term.
please reply me

Rupesh Jain

Rupesh Jain (Expert)
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21 June 2013 PLS MENTION DATE OF PURCHASE
INDEXATION WILL BE YEAR WISE

AFTER 3 YEARS LONG TERM CAPITAL GAIN WILL BE ARISE

AND U CAN INVEST CAPITAL GAIN AND EXEMPTION U/S 54 FOR INVEST IN RESISENTIAL HOUSE.

Heera Nahariya

Heera Nahariya (Expert)
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21 June 2013 point to point answer:
1. Indexation :- Index of financial year of selling divided by the index of financial year of acquisition of the capital asset.

2. Indexation will be applicable for a long term capital asset. In your case indexation is applicable.

3. Your capital gain is long term capital gain.

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