Gain or loss on sale of property
This query is : Resolved
24 February 2024
Sir/Madam,
I had bought a flat for Rs 2000000 (all incl) in feb-19 & sold the same for Rs. 2100000 (flat cost) in feb-24. Kindly help me in calculating the capital gain in this transaction. There is some calculation of Indexed cost of property & cost of inflation index for the respective years which i am not aware of. kindly guide in calculation capital gain / loss in this transaction.
I had bought a flat for Rs 2000000 (all incl) in feb-19 & sold the same for Rs. 2100000 (flat cost) in feb-24. Kindly help me in calculating the capital gain in this transaction. There is some calculation of Indexed cost of property & cost of inflation index for the respective years which i am not aware of. kindly guide in calculation capital gain / loss in this transaction.
CA R SEETHARAMAN
(Expert)
26 February 2024
No capital gains in this transaction.
Index for 2018-19 is 280 and for 2023-24 is 348.
The working is 20,00,000%280*348.
Which is 24 lacs whereas sold for 21 lacs no capital gains.
Index for 2018-19 is 280 and for 2023-24 is 348.
The working is 20,00,000%280*348.
Which is 24 lacs whereas sold for 21 lacs no capital gains.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- GST on reimbursement of expenses
- Query on effect of registration of property
- Movement of goods by packers and movers - type of sale - Reg.
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Wrong CMPo8 file
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Equity Share Sale and Purchase
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
