HI AVERYONE
I want to know i purchase a commercial property on 26.06.2001 @ 170345.00 and sale on 01.03.2019 @ 2310500.00
how much capital gain tax on it
4 Replies
CA. Umesh kumar
(ca.umesh11@gmail.com)
(1465 Points)
Replied 04 March 2019
This is a long term capital asset and there will be LTCG on sale of such asset. LTCG = Net sale consideration - (cost price*CCI of year of transfer/CII of year of purchase) , i.e. indexed cost of acquisition is to be deducted from net sale price.
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 04 March 2019
Your indexxed cost of acquisition shall be = 4,76,966/-
[170345 * 280 / 100]
Capital Gain = 23,10,500 - 4,76,966 = 18,33,534/-
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