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Capital Gains calculation

New Direct Tax Code 1659 views 1 replies

Ravichandra

Proprietor

25 Points Posted on 03 December 2010

After going through the New direct tax code and its details on Long term capital gains (ie. the index base is going to be shifted to April 2000)

I made a calculation of the capital gains that I would be eligible if I sell my property in 2012 and attached is the XLS file giving the details, Can any one review and let me know if that the calculation for both Acquisition and Improvements I have made is correct and also what are the supporting documents required to make the claim in case of a sale.

Another point to be noted is that the property has come to my possession in 2 parts

1 - Ground floor portion gifted to me by my father in April 2009

2 - First floor portion through a release deed from my mother and sister in May 2010.

Thanks and Regards

Ravichandra .S

Attached File : 27 capital gains calculation.xls downloaded: 339 times

Replies (1)

Ravichandra

Proprietor

25 Points Posted on 24 December 2010

Originally posted by : Ravichandra

After going through the New direct tax code and its details on Long term capital gains (ie. the index base is going to be shifted to April 2000)

I made a calculation of the capital gains that I would be eligible if I sell my property in 2012 and attached is the XLS file giving the details, Can any one review and let me know if that the calculation for both Acquisition and Improvements I have made is correct and also what are the supporting documents required to make the claim in case of a sale.

Another point to be noted is that the property has come to my possession in 2 parts

1 - Ground floor portion gifted to me by my father in April 2009

2 - First floor portion through a release deed from my mother and sister in May 2010.

Thanks and Regards

Ravichandra .S

There is no reply sofar, please let me know if any further clarification is required.