LTCG on Property sale whose indexed purchase value is more than realized sale

Shrish (Sr. Architect) (20 Points)

02 November 2022  

Dear All,

 I purchased a residential property in FY 2008-2009 in Bengaluru for Rs. 22L. I have spent additionally 6 L for improvements. some messonery work, flooring ,furniture etc. . I have sold it in FY2022-2023 at 57L

Now as per indexation COst of my property is  = 22* 331/137 = 53.15 L

similarly  indexed cost of improvement  = 6 * 331/137 = 14.5 L

My sale price 57L - 53.15-14.5  = 57-53.15-14.6 = -10.65      is negative.

So do I need to pay LTCG on this sale ? as I am actually not gaining it is loss to me.

Please guide me.