I and my wife jointly sold ancestral N.A property, purchased before 1961by ancestors,in Oct 2018.area 3500 sq mts for consideration of 1 Crore,TDS deducted 1 lakh,balance 99 lakhs deposited in Bank. Valuation by chartered engg.value of sold property as on 1/4/2001 Rs.36 lakhs
Purchased a flat for Rs 40 lakhs in Feb 2019.Bal amt in Bank.PLEASE CALCULATE CAPITAL GAINS ,AFTER DOING INDEXATION,FOR THE PROPERTY, THANK YOU!!!!!!!
Menu
Calculation of Capital Gains
Replies (2)
Indexed cost of property sold itself is 1.01 Cr. So, no capital gains, no need of claiming exemption u.s 54 for house property purchased of 40 lakhs!! Claim TDS deducted as refund by filing ITR of AY 2019-20,
agree with Mr Dhirajlal Sir.
your cost of indexation is already more than sale value.
No capital gains.
your cost of indexation is already more than sale value.
No capital gains.
Recent Topics :
- 12A registration expired in FY 22-23 and is not re
- Seeking Clarification on Business Code Selection a
- CG on property sold after construction of a house
- Nursing Home Taxability
- CA opted for Form 10IEA mistakenly - Demand raised
- Query on scenario related to FAST DS 2026
- Audit Executive (Remote, India) - Ace Auditing Off
- GST Transaction On Used Clothing
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
Related Topics :
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
ARTICLESHIP
04 September 2026
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
Featured
12 September 2026
Assistant Manager - Finance & Compliance
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
CCI
Pro
CAclubindia
