Long term gain on property

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MOTILAL PUROHIT (Querist)
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02 July 2019 SIR, MY CLIENT HAD PURCHASED A FLAT AT MUMBAI IN 1972-73 NOW THEY WANT TO SELL FLAT FOR 7500000 PLEASE LET US TELL ME HOW TO CALCULATE INDEXING VALUE

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 July 2019 1. Have to know the fair market value of the flat as on 1 - 4 - 2001.

2. Find the indexed cost of the above said value.

3. Deduct the above indexed cost from the sale value.

4. Resultant figure will be capital gain/loss, as the case may be.