A and B are two brothers. A purchased a residential property in 1991 when B was minor. Consideration value 2 lac. In 2010 he transferred this property in the name of B through Danpatra. Now in 2024 B sold this property for Rs 40 lac. Now how to calculate the capital gain on this property. Plz guide..
Consider the FMV of the property from circle rate as on 01.04.2001 as COA. Indexed it to value as on 2024. Excess will be LTCG.
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