21 June 2013
if my client purchase a flat 5,00,000 in installment of rs.12500 Quarterly and after 3 year he sold that flat at rs.10,00,000. what is the index rate and what is purchase amount he clam for deduction. and what type of gain is this long term or short term. please reply me
21 June 2013
point to point answer: 1. Indexation :- Index of financial year of selling divided by the index of financial year of acquisition of the capital asset.
2. Indexation will be applicable for a long term capital asset. In your case indexation is applicable.
CAclubindia
