CAPITAL GAIN

If the land sold is an urban land, the taxable Capital gains shall be:

Sale Consideration:                             714,000

Less: Indexed Cost of Acquisition    522,475

(455150*551/480)

STCG                                                      191,525

It will be included in your total income and tax shall be computed at slab rates

sir ji lage hath non urban land ke bare mi bata dona to mera bhi mind clear ho jaye.

aur why STCG nt taxed at 10% here?

Hello Sir,

Since the land sold by amar is short term capital asset, how can we give indexed cost of acquisition ? According to me the calculation shall be as follows :-

Sale Consideration           :   7,14,000

Less : Cost of Acquisition :   4,55,150
--------------------------------------------------------

Short Term Capital Gains :   2,58,850

IN CASE OF STCG ON SALE OF URBAN LAND INDEXATION IS NOT REQUIRED. SO......

SALES CONSIDERATION         =        RS. 714000.00

(-) COST OF ACQUISITION       =        RS. 455150.00

STCG                                             =        RS. 258850.00

I am sorry.. The answer of pooja is correct. No indexation benefit is available.

I missed it by oversight