my father had purchased a flat in 1988 for Rs 2 lacs,
now he has sold it in 65 lacs in 2019.
please tell me what is the capital gains on this sales and how to calculate cost inflation value of the flat
lexbery (d) (227 Points)
10 January 2019my father had purchased a flat in 1988 for Rs 2 lacs,
now he has sold it in 65 lacs in 2019.
please tell me what is the capital gains on this sales and how to calculate cost inflation value of the flat
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160579 Points)
Replied 10 January 2019
Get market value of the property from registered valuer as on 01.04.2001.
Say, its 5 lakhs.
So Indexed cost of acquisition as on Jan 2019 is 280*500000 /100 i.e. 14 lakhs.
& so LTCG would be 51 lakhs.
CAclubindia
