Capital gain on sale of plot

This query is : Resolved

Nitesh (Querist)
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01 January 2014 We have bought Land in year 1990 for 10 lakhs in Mumbai. Now we want to sale it for Rs 1.5 crore. Kinldy advice, How we can save tax.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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01 January 2014 It would result in long term capital gain..
You can avail exemption U/S 54F and 54EC..

for details pls go thru this..
https://www.caclubindia.com/articles/capital-gain-tax-simplified-18623.asp

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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03 October 2021 Get valuation report of the plot from Government Certified Valuer, as on 01.04.2001. Take it as your COI.
Index it with the present year; base 2001 as 100. As such LTCG can be evaluated.

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