Long term capital Gain 20%


This query is : Resolved 

Quick Summary
This discussion concerns the calculation of Long Term Capital Gains (LTCG) tax on a property sold for Rs 49 Lakhs. The property was originally acquired by the grandfather in 1970 for Rs 5,000. The user is seeking clarification on whether to apply indexation from the original purchase date or use the 2001-02 base year market value for calculating the taxable gain.

21 June 2022 December 2021 one property Sold by me Rs.49 Lakhs, that Acquired my grand father in 1970 for Rs.5,000/-. My father and Grand father expired in year 2000.
My Query is
1. LTCG 20% On 49 Lakhs minus indexed 5000/- or

2. LTCG 20% on 49 Lakhs minus 2001-02 base year Market value indexation

21 June 2022 LTCG 20% on 49 Lakhs minus 2001-02 base year Market value indexation


22 June 2022 Thank you very much sir


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