long term capital gain on property

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calculation format of LTCG on property and property purchase on4/10/2009 and sale on 21/05/2016 purchased cost 550000 sale value Rs. 1320000, cost of improvement RS. 400000.
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Purchased in the FY 2009-10

Asset sold in the FY 2016-17 

Nature : Long term capital Asset 

Sale consideration                                                13,20,000

Less: Brokerage/transfer expenses                         xxxxx

                                                                            --------------------

Net Consideration                                                  13,20,000

Less: Indexed cost of Purchase 

5,50,000/632* 1125                                                  9,79,035   

Cost of Improvement 

(Index it taking the year of improvment as base)

Use the old table, having FY 1981-82 as base        

4,00,000/index*1125                                                  xxx 

                                                                           -------------------

LONG TERM CAPITAL GAIN                               xxxxxxx               

  

 


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