CAPITAL GAIN

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 June 2010
Dear Experts,

A Flat was purchased in Feb 1996 for Rs 421000/= was sold in June 2010 for Rs 18,00,000/=.

What will be my tax liability in indexing and also without indexing.

Thanks & Regards

Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 June 2010 index for 1995-96 - 281
index for 2010 - 11 - (not yet notified) taken as 670 (L. Y. 632)

Sale value 1800000
Index cost of acquisition 1003808

(421000 * 670/281)

Long Term Capital Gain 796192

No option of indexataion and no indexation as the same is for listed shares only.

Hence tax on above @ 20.6% = 164016

Exemption possible if investment made u/s 54 & 54EC

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