A person sold a property (Land) to another person of Rs. 16 lac in F.Y. 2021-22. The property he had got from his grandfather as a heritage property in F.Y. 2016-17. The property actual purchase price was not mentioned anywhere due to it was very old property. Now my question is how he calculate his capital gain? Please resolve the problem
Menu
Regarding Capital gain Calculation
Replies (3)
Get value of the land as on 01.04.2001 from Sub-registrar office of the area, that will be its cost as on the date. Index it to 2021-22 for actual deduction from sell price.
ok sir, then indexation will be for the year 2021-22 and 2001-02
Yes. from 100 to 317 .....
Recent Threads
- Query of Goodwill
- Remuneration to Partners
- Request For Dhirajlal Rambhia
- Tds deduction queery
- Check ITR1 on income tax Form ITR1 Instead of 1 ho
- Form 121 requirement
- Interest on reversal of ITC when ITC balance avail
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
Related Threads
CAclubindia
