Long term Capital gains received on sale of Residential Plot of land 10 years after buying it
This query is : Resolved
22 November 2024
Dear sir,
Can you enlighten me on applicability of cost inflation index while calculting long term capital gains on of Residential Plot of land sold on 20th November 2024 after holding it for 8 years ? Thanks in advance.
Can you enlighten me on applicability of cost inflation index while calculting long term capital gains on of Residential Plot of land sold on 20th November 2024 after holding it for 8 years ? Thanks in advance.
22 November 2024
Any land or building purchased by an assessee before 23rd July, 2024 and is a resident of India have given two option. Assessee can choose whichever is beneficial to him. Option: (1) Rate of tax with benefit of indexation 20% or (2) Without benefit of indexation 12.5%.
Cost Inflation Index for current year is 363.
Cost Inflation Index for current year is 363.
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