Sir,
Please approach the tax consultant, they will prepare LTGT workings with Cost Index Method. You need to provide Purchase value, Additional Cost Incurred for building, Sales Commission paid through bank, Any stamp duty expenses. So that the Long Term Capital Tax can be computed.
| CII | ||
| 2021-22 | 317.00 | |
| 2001-02 | 100.00 | |
| Computation of Capital Gains | ||
| Sales Value | 52,00,000 | |
| Less - Transfer Expenses | - | |
| Net Sale Consideration | 52,00,000 | |
| Less - Indexed COA | 6,34,000 | |
| Less - Indexed COA | - | 6,34,000 |
| LTCG | 45,66,000 | |
| Assumptions - | ||
| 1. Cost of purchase is higher than FMV as on 01-04-2001 | ||
| 2. Property is sold out in 2021-22 F.Y | ||
| Note - | ||
| If FMV as on 01-04-2001 is higher than Cost of purchase then FMV shall be considered | ||
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
