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Cost of acquisition exemption of tax u/s. 54

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Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2013 if i have purchased plot of land in say 1987-88 for 30,000/-

Construction over this plot has been done in 1998-90 for rs.2,50,000/-

Sale of the same in 2013-14 for rs.40,00,000/-

how to calculate Capital gain....

whether exemption u/s. 54 is available? How much i have to invest?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 August 2013 Indexation will apply for purchase year 1987-88 and cost of improvement year 1998-99

Sec.54 exemption applicable in case you are fulfilling the all conditions

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