Cost inflation calculation of flat

Tax queries 117 views 1 replies

227 Points Joined January 2011

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

Replies (1)

SEO Sai Gr. Hosp.

208697 Points Joined July 2016

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.

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