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Long term capital gain tax on property

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(Querist)
23 July 2013 Dear Friends,

Query-
I have purchased a land in 1979 for Rs 150000 and constructed a House in 1989 with the cost of Rs 23 lakhs. I have done renovation in 1999 for Rs.500000 and sold my house in Mar 2013 for 56 lakhs.
Please guide me with LTCG calculation...How do I consider Land value and constructed property in overall calculation.

Regards
Garvit
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Rupesh Jain

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Rupesh Jain (Expert)
23 July 2013 take index value of land, construction and renovation and then deduct from sale price and calculate long term capital
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