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long term capital gain

10 March 2019

i have sold residential plain plot in Feb 19 which was bought in 1988.so I request to know about capital gain and up to what time I can purchase capital gain bond

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (179991 Points)
Replied 10 March 2019

Long Term capital gains can be evaluated after obtaining valuation of the plot as on 01.04.2001 from sub-registrar office or any registered valuer. Bond u/s. 54EC can be purchased within six months from the sell transaction date.

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CA. Umesh kumar (ca.umesh11@gmail.com) (1465 Points)
Replied 10 March 2019

LTCG is to be calculated as follows. net sale price- indexed cost of acquisition. here plot purchased before 1.4.2001 hence fair market value as on 1.4.2001 is to be taken in place of indexed cost of acquisition. may contact for more. ca umesh kumar- 9717597230