banner_ad

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

Tax queries 247 views 2 replies

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.

 

Replies (2)
No You will have to pay no tax, as it's a House property loss which will be carried forward and will be set off against future income. Only condition is that Income Tax return should be filed on or before due date

No question of LTCG, if indexed cost is more than sell value/FMV.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details