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Ltc u/s - 54

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(Querist)
27 July 2011 Dear Experts,

Please give me an example how to calculate LTC if an individual sale his old house property and purchase new house property in same FY.

its very very urgent.
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
27 July 2011 Gross Consideration:- A
Less- Expense:- B

NET CONSIDERATION C=A-B

Indexed Cost of
Acquisition D

CAPITAL GAIN E=C-D
(Long Term)

Less: Value of New
Property F

Net Capital Gains
Taxable G= E-F

If "F" is more than "E", then whole of Capital Gains is Exempt.

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