Calculation of LTCG for property acquired before 2001

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109 Points Posted on 13 January 2020

Hello,

I need assistance to calculate LTCG

Sale price as on 1st January 2020 =. 60 lakh

Brokerage charges = 60000

Purchase price during 1986-87 = 2959

Construction cost of 1986-87.  = 131306

Improvement cost of 2007-08 = 200000

 

Please help me with the calculation of LTCG with explanation for indexing value before 2001

 

Thanks,

Harsha

 

 

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On 13 January 2020 at 21:08 Report
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Quick Summary
This discussion addresses the calculation of Long Term Capital Gains (LTCG) for a property purchased before 2001. It outlines the steps involved, including determining the net sale consideration and calculating the indexed cost of acquisition (COA) and improvement (ICOA). The user is seeking clarification on how to use the fair market value from 2001 for indexing purposes.

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196 Points Posted on 14 January 2020
First you have to take the fair market value of this property from sub registrar office on 2001.
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On 14 January 2020 at 11:03
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Studwnt
730 Points Posted on 25 January 2020
Sale price - brokerage = net sale consideration 5940000

1) COA >Higher of (2959+131306= 134265) or FMV Of 2001
* 289/100

2) ICOA 200000* 289/129

Ltcg = 5940000- 1-2
1 Reply
On 25 January 2020 at 20:03

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