I am selling my flat at ₹1.15 CR . i purchased it at the year 2002 for 17,00,000 . now i want to calculate the capital gain and indexation too and also i wanted to know how much proportionate deduction i can avail under section 54&54f.
you have not mentioned the exact year of sale as well as exact year of purchase. Assuming that you sold the property in 2018-19 and purchased it in 2002-03 capital gains wud come approximately to 69lacs. you need to invest these entire CG in property to claim exemption under section 54
yes you can claim 80lacs since the essential conditions for claiming exemption on land us that building is being built on it. from your query I believe that the on the land purchased the building is built on it and they are not seperately invested
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