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Capital gain
suppose, a land has been purchased on 1.4.81 for 1,00,000 & a building had been constructed on 1.4.2005 for 6,50,000.in the py 2015-16 it has been sold for 27lacs, now at what value & for which period indexing is to be done? ?
Replies (1)
Full value of considration. 2700000
Less - indexed cost of land
100000*1081/100. -1081000
Indexed cost of constr.
650000*1081/497. -1413783
Taxable long term capital gain. 205217
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