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Fixed assets sale - long term capital gains

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(Querist)
04 March 2022 There is long term capital gain on sale of land and building in private limited company. How to post journal entry for indexation? If I won't consider indexation in accounting, then tax under MAT provisions applies which is very high. So how to proceed?
Kindly reply this is little urgent. Thanks
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
04 March 2022 Journal entry for indexation can't be posted in the books of accounts. Tax payable as per MAT provisions.
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