Part of land is sold
This query is : Resolved
sls associates
(Querist)
31 December 2012
sir,
One of my client has sold part of land in FY 11-12 to trust. He purchased that land for Rs. 200000 in 2004 for 2400 sq. feet. But Now he sold 1800 square feet. How to calculate Indexed cost of acquisition? Please correct me if i am wrong ?
Indexed cost of acquisition = 200000 * 1800/2400 * 785/480
One of my client has sold part of land in FY 11-12 to trust. He purchased that land for Rs. 200000 in 2004 for 2400 sq. feet. But Now he sold 1800 square feet. How to calculate Indexed cost of acquisition? Please correct me if i am wrong ?
Indexed cost of acquisition = 200000 * 1800/2400 * 785/480
srinivasan
(Expert)
31 December 2012
Yes u r right
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