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Mahesh Chandra Mohapatra   15 July 2019

Capital gain

Please calculate capital gain
Fair market value in 2001 -800000
Sale Proceed in 2018(AY 2019-20)
- 1500000
If capital loss or gain comes
which ITR is required to be filed

 4 Replies

Sagar Vejani

Sagar Vejani   15 July 2019

No capital gain
Suresh Thiyagarajan

Suresh Thiyagarajan (Student)     15 July 2019

1. Indexation chat has been revised and as per new indexation chart Capital gains will be computed taking 2001 as a base year for determining the Indexed COA. 
2. As per indexation COA in the year 2018-19 will be Rs. 22,40,000 (8,00,000*240/100). Hence in the given case, there will be a long term capital loss of Rs. 7,40,000 (15,00,000-22,40,000) 
3. This Long term capital loss of Rs. 740,000 should be taken should be shown in your return. ITR -2 can be used. 
Please correct me if the above solution has an alternative view.

Sivaramaraju G

Sivaramaraju G (Learner)     15 July 2019

agreed with suresh
Mahesh Chandra Mohapatra

Mahesh Chandra Mohapatra   15 July 2019


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