Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 October 2014
My father purchased a land in 1998 for rs.75000 and planning to sold it for rs.800000.please tell me the amount of capital gain.can he claim exemption by investing in land or construction of additional floor in existing house property.
21 October 2014
Sales consideration...............800000
Less:-Indexed cost of acquisition
75000*1024/351...................218803
Capital gain...................581197
Less:-Indexed cost of acquisition
75000*1024/351...................218803
Capital gain...................581197
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