Long term capital gains

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2011 Dear Experts pl answer the following query

One of my client has sold his land for Rs.200000/- on May 2008 (Guide Line Value is Rs.6400000/-) purchased the same for Rs.690000/on 02.02.2002, And he has purchased one house property on Feb 2007,For Rs.2381000/- and made improvement( constructed )for Rs.2350000/-during the year 2008-09, and he as also spent Rs.500000/- during the year 2007-08

Under the above circumstances, what will be long term capital gains?, and how much amount can be claimed u/s 54F., pl clarify

the clarification is needed on urgent basis.

Kapil Gupta

Kapil Gupta (Expert)
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22 November 2011 Please check your data, I think there is some mistake in the data provided.