Long term capital gains regarding
This query is : Resolved
10 January 2022
Cost of land including registration charges Rs.92000, year of puchase 1995.
Construction cost Rs.500000 - year of construction 1997, this is sold for 1800000 in the year 2022. Kindly let me know the long term capital gain or loss.
Construction cost Rs.500000 - year of construction 1997, this is sold for 1800000 in the year 2022. Kindly let me know the long term capital gain or loss.
10 January 2022
You need to get the circle rate (guidance value) of the constructed area along with land as on 01.04.2001. That would be cost of acquisition. Based on that the indexed cost can be calculated. The LTCG will be the sell price less the indexed cost of acquisition less the expenses pertaining to sell transfer, if any.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- GST ISSUE OF INPUT AND OUTPUT GST
- Tax rate change regarding
- UDIN ISSUE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
