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Long term capital gain tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 February 2012 My boss has sold a property which was purchased on 2004 and sold in this year.The purchase value was Rs.2500000/- and sold value is 4500000/- what is the long term capital gain tax,what is the method for calculating the tax if he is not interested to reinvest the amount.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
22 February 2012 Sale Consideration 45,00,000/-
Less: Expenses on Transfer
Net Sale Consideration
Less: Indexed COst of Acquisition
25,00,000*CII of FY 04-05/CII of FY 11-12

Balance will be long term capital gain or loss.

CII = Cost Inflation Index.
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