Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2012
Mr. Ram Sold his house on Ist May, 2009 for Rs 12, 00,000. This house was purchased by his father in 1960 for Rs 50,000. Mr. Ram got this house in inheritance on the death of his father in 1977-78. On 01.04.1981 fair market value of this house was Rs 150,000. On Ist December, 2009 he purchased another house for Rs 2, 50,000. For the assessment year 2011-12 calculate his capital gains.
04 October 2012
Computation of Capital Gain:
Sale Price 12,00,000
Less: Indexed Cost of Acquisition
1,50,000*632/100 = Rs. 9,48,000
Capital Gain 2,52,000
Less: Exemption u/s 54 2,50,000
Taxable Capital Gain 2,000
Sale Price 12,00,000
Less: Indexed Cost of Acquisition
1,50,000*632/100 = Rs. 9,48,000
Capital Gain 2,52,000
Less: Exemption u/s 54 2,50,000
Taxable Capital Gain 2,000
04 October 2012
Computation of Capital Gain:
Sale Price 12,00,000
Less: Indexed Cost of Acquisition
1,50,000*632/100 = Rs. 9,48,000
Capital Gain 2,52,000
Less: Exemption u/s 54 2,50,000
Taxable Capital Gain 2,000
Sale Price 12,00,000
Less: Indexed Cost of Acquisition
1,50,000*632/100 = Rs. 9,48,000
Capital Gain 2,52,000
Less: Exemption u/s 54 2,50,000
Taxable Capital Gain 2,000
04 October 2012
how can you ask to compute the capital gain for the AY 2011-12
since the LTCG was in the Year 2010-11
since the LTCG was in the Year 2010-11
04 October 2012
but the computation given by Mr. Siddharth is absoultely correct
Ltcg would be Rs.2000
if it is for AY 2010-11
Ltcg would be Rs.2000
if it is for AY 2010-11
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2012
Thanks both of u
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