Celebrate Freedom and save 20% OFF on CAclubindia Pro Subscription! Use code: FREEDOM20

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

Reply
Follow
Share

5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171172 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.

5 Like

Upgrade to CAclubindia Pro. Subscribe Now!

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