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Capital gain indexation
I had purchased the land in April.1978 and constructed the house in 1979 and devekioed further in 1989,. In addition I have also further developed during 2009. In case I wanted to sell the property now or later, how to calculate the gains and what type of valuation I should have for arriving at the capital gains and tax thereon.Please clarify
Replies (2)
cost of acquisition will be reckoned from 2001. you can claim improvement costs also
it's is a long term capital gain so you can claim benefit of indexation and also benefit of cost of improvement
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