My client has leased property purchase for 25000 in the year 1984,
In 2010 leased property was Purchased from Municipal corporation for Re 15,000
Demolished old building and constructed New Bldg in 2017-18 Investing 40,50,000
and in 2023-24 had Sold it for 65,00,000 what will be the LTCG...??
It's a long method. will need more details.
1. find fair value of property as of 1 4 2001.
2. find capital gain applying the indexed cost of acquisition.
CAclubindia
