When and How much tax will be paid on sale of Property?

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  1. kksh

    kksh New Member

    what is 1024/519 ? Is it constant variable or it changes from case to case?
    As you said only capital gain amount to be deposited? Can I invest rest amount on other items like buying gold etc..
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    Yes, you can invest the rest amount in any manner as you feel like.

    So you can invest in Gold/ FD/ Shares or maybe spend it anywhere you feel like.
     
  3. gaurav_kumar

    gaurav_kumar Well-Known Member

    The formula for computation of Indexed Cost of Acquisition is

    Cost of Acquisition * Cost Inflation Index of the year of Sale / Cost Inflation Index of the year of Purchase

    Cost Inflation Index of the year of Purchase i.e. 2006 is 519
    Cost Inflation Index of the year of Sale i.e. 2014 is 1024

    For more on computation of Indexed Cost of Acquisition, kindly refer - http://www.charteredclub.com/cost-inflation-index/
     
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