ABHIJIT MANNA (ACCOUNTANT) (447 Points)
21 July 2022A person sold a property (Land) to another person of Rs. 16 lac in F.Y. 2021-22. The property he had got from his grandfather as a heritage property in F.Y. 2016-17. The property actual purchase price was not mentioned anywhere due to it was very old property. Now my question is how he calculate his capital gain? Please resolve the problem
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 21 July 2022
Get value of the land as on 01.04.2001 from Sub-registrar office of the area, that will be its cost as on the date. Index it to 2021-22 for actual deduction from sell price.
ABHIJIT MANNA
(ACCOUNTANT)
(447 Points)
Replied 22 July 2022
ok sir, then indexation will be for the year 2021-22 and 2001-02
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 22 July 2022
Yes. from 100 to 317 .....
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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