Capital gains

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190 Points Posted on 30 September 2020
one of land purchase in the year 1984, now this property is sold on Feb 2020
how to calculate capital gains ?

can I calculate capital gains as per index year 1984-2000 and thereafter 2000-2020 in two calculation?
plz guide me
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On 30 September 2020 at 12:15 Report
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This discussion addresses how to calculate capital gains tax for a property purchased in 1984 and sold in February 2020. The user is asking if they can use two separate indexation periods (1984-2000 and 2000-2020) for the calculation. Advice suggests using 2001 as the base year for indexation, with an index value of 100, and obtaining a valuation from a registered valuer for the property's worth in 2001.

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GST Practitioner & Accounts
15146 Points Posted on 30 September 2020

As per new  Indexation  Chart  from 2001-2002  =  100

For  year  of   property sold   2020-21                  =   301

You have purchase in 1984 , so as new Index chart  you have take base year as 2001 

Just  confirm  form  Income Tax web site - www Incometax .gov.in 

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On 30 September 2020 at 12:32
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190 Points Posted on 02 October 2020
So I can calculate with consider index value 100 for the year 1983-84
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On 02 October 2020 at 11:34
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GST Practitioner & Accounts
15146 Points Posted on 02 October 2020

No , you have to find out  the value of  property  from  registered  valuer in 2001  and then consider Index value  100  for year 2001-2002 as a base . 

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On 02 October 2020 at 23:15

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