Indexation Benefit not getting

787 views 4 replies

Hello

My client, Resident, sold house propetry on 15th Jan, 2025.

Purchase date - 3rd Dec 2015 

But while calculating CG, I'm not getting Indexation benefit. I tried online as well as thru Utitility. 

Any likely reason. Can anyone help me on this.

Thomas John

Replies (4)
Quick Summary
A user is encountering an issue where the indexation benefit is not being applied when calculating Capital Gains Tax (CGT) for a property sale. Despite using both online and offline utilities, the indexed cost appears to be lower than the actual cost, leading to the benefit not being factored into the CGT calculation. The issue was eventually resolved after refiling the information from scratch.

@ Thomas John

Must use the Offline Common Utility.

And it does calculate indexation automatically as far as I remember.

@ Ranjan

Indexed cost is calculated but not considered for calculating CG. CG is calculated by deducting actual cost from sale value and tax is calculated at 12.5%. 

Indexed cost would have resulted in loss in my case.

I tried online and offline utility. Both are giving same result

@ Ranjan

It’s working now. I refiled everything from scratch—still not sure what went wrong earlier.
Thanks again for your time

@ Thomas John

I am glad your present problem got resolved.

All the best, you must be extremely busy now.

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