CAPITAL GAIN

I HAD PURCHASE A  LAND ON 20/12/2004 FOR RS. 455150/- AND SOLD IT ON 17/07/2007 FOR RS. .714000/- HOW MUCH CAPITAL GAIN WILL BE DEPOSITED BY ME?

Replies (5)

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

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details