hi
House Property Purchased - 60,500 on 1964-65
Expenditure made - 30,00,000 on 1999-00
Expenditure made - 1,10,00,000 on 2013-14
Now The House (Partly - Basement & Ground Floor) sold to Builders at Rs. 1,45,50,000/-
and Partly (1st, 2nd and 3red) Retain Himself,
(FMV on 01/04/1981 not Available)
pl calulate capital gain
Hii, Arun you can go through the following link to calculate capital gain
https://finotax.com/income-tax/cgcalc
In my opinion captal gain will be:
| Full value of Consideration | 14,550,000.00 | ||||
| Less: | Expenses on transfer | - | |||
| Net Consideration | 14,550,000.00 | ||||
| Less: | Indexed COA | ||||
| 12100(60500/5)*939/100 | 113619.00 | ||||
| Indexed COI | |||||
| 600000(3000000/5)*939/389 | 1448329.05 | ||||
| 2200000(11000000/5)*939/939 | 2200000 | 3648329.05 | |||
| LTCG | 10,788,052 | ||||
You will have to find out the cost of acquisition / construction of the basement and ground floor and the year it was done, which is sold to the builder.
CAclubindia
