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.
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.
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