CAPITAL GAINS TAX

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  1. CLAUDE SALDANHA

    CLAUDE SALDANHA New Member

    CAN U HELP ME WITH CAPITAL TAX COMPUTATION

    APARTMENT BOUGHT 0N 15 OCT 1988 FOR RS 118650. REGISTERATION CHARGES RS 9900.
    I HAVE SPENT RS 2 50 000 IN 1998 FOR UPGRADING BUT I HAVE NO RECEIPTS OR DOCS.

    SOLD ON 15 SEPT FOR RS 30 LAKHS.

    CAN TAXES AND SOCIEY MAINT CHARGES BE ALSO DEDUCTED.

    PLEASE COMPUTE TAX FOR ME

    CLAUDE
     
  2. Parul_Gupta

    Parul_Gupta Active Member

    Indexed Cost of Acquisition- (118650+9900)*1024/161 = 817610

    Indexed Cost of Improvement - Will be considered only if you have the Bills for the same.

    Sale Price - 30 Lakhs

    Long Term Capital Gain - 30,00,000 - 817610 = 21,82,390
     
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