Capital Gain computation

Share This Thread
  1. Sai Karthik

    Sai Karthik New Member

    Hiiiiiiii all,
    A has purchased a plot of land for 5000 in 1988,and he entered into contract with construction agents for construction of building for 150,00,000 in 2012.
    he constructed 6 individual flats in that space along with parking space and terrace for all 6 flats. and he incurred total capital expenditure for all flats of RS.27,10,499 in 2013

    and he sold one flat in 2014 for 30,00,000.Can any one please explain me how to calculate capital gain?

    Thaking you.....
  2. Karan Batra

    Karan Batra Well-Known Member

    Since 6 flats have been made, the total cost of purchase and the total cost of construction would be split in 6 parts.

    As the period of holding is more than 3 years i.e. long term, Mr. A would also be eligible to claim benefits of indexation.
  3. Sai Karthik

    Sai Karthik New Member

    thank u sir
Draft saved Draft deleted
Similar Threads Forum Date
Date of reckon of Capital Gain Tax On selling A FLAT Income Tax Yesterday at 1:38 PM
capital gain Income Tax Wednesday at 1:33 PM
Capital gains on shares (RSU and ESPP) exercised at NASDAQ? Income Tax Tuesday at 8:35 PM
Capital Gain tax for multiple properties Income Tax Tuesday at 6:02 PM
Income Tax on Interest on 54EC Capital Gains bonds Income Tax Saturday at 1:17 PM