one shop sale on April 2019 consideration is Rs 1482880
and one plot purchase on June 2019
consideration is Rs 3248914 including 212600 stamp duty
how can I calculation of capital gain on both sale and purchase
please show calculation
thanks
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Capital gain tax calculation
Replies (1)
You need the following additional data to calculate the capital gain:
1) If the shop was acquired before 1/4/2001, the fair market value (Stamp Duty Valuation) of the shop as on 1/4/2001
2) If the date of acquisition of shop was after 1/4/2001, the actual date of acquisition and the purchase consideration
The capital gain on purchase of plot would not be applicable since the asset is just acquired. The capital gain is calculated in the year of transfer, not acquisition.
1) If the shop was acquired before 1/4/2001, the fair market value (Stamp Duty Valuation) of the shop as on 1/4/2001
2) If the date of acquisition of shop was after 1/4/2001, the actual date of acquisition and the purchase consideration
The capital gain on purchase of plot would not be applicable since the asset is just acquired. The capital gain is calculated in the year of transfer, not acquisition.
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