Hi Deepak, I have bought a plot (30'*40") during 1994 for Rs. 35,000. I intend to sell the same the price is aroung Rs. 15 lacs. I donot intend to invest in residential property. What is the longterm Capital Gains Tax I need to pay. Thanks. Ravindra 14.03.2011 asked Mar 14 '11 at 09:27 by RAVINDRAB 1●1●1●1 |
Long term capital gains and income tax computation: Purchase Year = 1994-95 Sale Year = 2010-11 Indexed Purchase price = 35000 x (711/259) = 96081 answered Mar 16 '11 at 13:06 by Pankaj Batra 5.2k●3●20 |