banner_ad

If res property pur on 1987 and sale 2019 how i calculate Long Term Capital Gain.

Tax queries 442 views 2 replies
User Avatar

Accounts officer
30 Points Posted on 18 October 2020

Hi,

if res property purchase on 1987 cost Is 100000 and sale 2019 cost is 2000000 witch index applicable or how i calculate LTCG. please suggest me. give me index cost with example. 

Reply Share Follow
On 18 October 2020 at 23:58 Report
Replies (2)
User Avatar

209 Points Posted on 19 October 2020
Hello
for this you have to take indexation from year 2001 as base year (100) so you mentioned it as purchased for 100000 so indexed cost ov acquisition will be
100000*289/100 that will be 289000 and ltcg will be 1711000 which will be taxed at 20% rate = 342200
Reply
On 19 October 2020 at 08:50
User Avatar

197 Points Posted on 19 October 2020
Calculate the fmv of the property as on 1/4/2001 instead of your purchase value and take that value as cost of accquisition for indexation and follow the steps as explained by Mr Aman Verma
2 Reply
On 19 October 2020 at 10:08


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details