Cost Inflation Index – Capital Gain

Cost Inflation index for the Financial Year 2017-2018 has been announced to be 272

For computing long-term capital gains, knowledge of cost inflation index is necessary. The capital gains will be computed after deducting the indexed cost of acquisition (purchase) from the full value of consideration. The cost of purchase of the asset will be increased by applying the cost inflation index (CII). Once the cost inflation index is applied to the cost of acquisition, it becomes indexed cost of acquisition.

In computing capital gains arising from the transfer of a long term capital asset, deduction can be claimed for the cost of acquisition and the cost of Improvement after indexing them.

Cost inflation Index” for any year means such index as the central government may, having regard to 75% of average rise in consumer price index for urban non manual employees for the immediately preceding previous year to such previous year by notification in the official gazette specify in this behalf.

This means an amount which bears to the cost of acquisition, the same proportion as CII for the year in which the asset is transferred bears to the CII for the first year in which the asset was held by the assessee or for the year beginning on 1st April, 2001, whichever is later.

Cost Inflation Index (Revised) – From 2001

The revised rates will be applicable from 1st April 2017 and from assessment year 2018-19 onward..

Financial Year Cost Inflation Index Financial Year Cost Inflation Index
2001 – 02 100 2010 – 11 167
2002 – 03 105 2011 – 12 184
2003 – 04 109 2012 – 13 200
2004 – 05 113 2013 – 14 220
2005 – 06 117 2014 – 15 240
2006 – 07 122 2015 – 16 254
2007 – 08 129 2016 – 17 264
2008 – 09 137 2017 – 18 272
2009 – 10 148

Change of Base Year for Calculation of Capital Gains
Finance Minister Arun Jaitley had proposed to change the base year to calculate the indexation benefit from 1981 to 2001 in the 2017 budget. Till 31 Mar 2017, capital gain was calculated with 1981 as the base year. This means that the purchase price of an asset bought before 1 April 1981 could be calculated on the basis of the fair market value of 1981. From 1 Apr 2017, the purchase price will be calculated based on the fair market value of 2001. Accordingly, capital gains on assets acquired before 1 April 2001 will also be calculated using fair market value as on 2001.

Cost Inflation Index – For Capital Gain (Applicable till 31st March, 2017)

The cost inflation indices for the financial years so far have been notified as under:

Financial Year Cost Inflation Index Financial Year Cost Inflation Index
1981 – 82 100 1999 – 00 389
1982 – 83 109 2000 – 01 406
1983 – 84 116 2001 – 02 426
1984 – 85 125 2002 – 03 447
1985 – 86 133 2003 – 04 463
1986 – 87 140 2004 – 05 480
1987 – 88 150 2005 – 06 497
1988 – 89 161 2006 – 07 519
1989 – 90 172 2007 – 08 551
1990 – 91 182 2008 – 09 582
1991 – 92 199 2009 – 10 632
1992 – 93 223 2010 – 11 711
1993 – 94 244 2011 – 12 785
1994 – 95 259 2012 – 13 852
1995 – 96 281 2013 – 14 939
1996 – 97 305 2014 – 15 1024
1997 – 98 331 2015 – 16 1081
1998 – 99 351  2016 – 17  1125

'Cost Inflation Index – Capital Gain' have 266 comments

  1. March 26, 2013 @ 4:54 am Adarsh Mohan

    Dear Sir

    Thanks for making me understand the indexation. I shall be further obiliged if you may kindly elobrate following doubts

    1 What shall be the date of investment for property if payment is staggered?
    2 What shall be the date of investment for property if completion is on a later date?

    Thanks and best regards

    Reply

  2. March 31, 2013 @ 8:08 am rajesh

    i bought a agriculture land of Rs 2 lakhs in 2009 and sold in 2012 in 5 lakhs.I invested these 5 lakhs rs to another property .i want to show the gain the long term capital gain .
    need to know how to show this and what are the property documents required.

    Reply

    • March 31, 2013 @ 4:40 pm Joshua

      Agricultural Lands are exempted from Capital Gains. You need not pay any Capital Gain Tax.

      Reply

      • April 21, 2013 @ 10:45 am ATUL

        Where is it specified that agricultural lands are exempted from Capital Gains Tax and is this a certainty??

        Reply

        • April 22, 2013 @ 2:57 pm Joshua

          Dear Friend,
          Section 2(14) of the Income Tax Act, 1961, excludes rural agricultural land in India from the definition of Capital Asset. Transfer of Capital Assets only results in Capital Gain. Hence Agricultural Lands are Exempted from Capital Gains.

          Reply

          • May 3, 2013 @ 4:53 am Vani Rai

            But Sir,
            Agricultural land situated within the specified limits(8 km.) from municipal corporation , if sold, the capital gains so arising are Taxable !

          • May 4, 2013 @ 3:31 am Joshua

            Dear Friend,
            You are right. And Such Municipality or cantonment board must have have a population of 10000 or more according to the latest census. And I also forgot to mention that Agricultural Lands Sold for Non Agricultural Purpose will be treated as capital Asset and it is clarified in the case Sarifa Bibi Mohamed Ibrahim & others 204 ITR 631 (SC).

  3. April 18, 2013 @ 1:42 pm Karan Batra

    What is the Cost Inflation Index for 2013-14 ?

    Reply

    • April 22, 2013 @ 2:46 pm Joshua

      Dear Friend,
      Cost Inflation Index for Assessment Year 2013-2014 is 852. What we have given in the Chart are Financial Years. Financial Year 2012-13 means Assessment Year 2013-14.

      Reply

  4. April 21, 2013 @ 10:46 am ATUL

    Does any one have the cost inflation index for 2013-2014?

    Reply

    • April 22, 2013 @ 2:45 pm Joshua

      Dear Friend,
      Cost Inflation Index for Assessment Year 2013-2014 is 852. What we have given in the Chart are Financial Years. Financial Year 2012-13 means Assessment Year 2013-14.
      Update: CII for the Financial year 2013-2014 is 939.

      Reply

    • June 6, 2013 @ 5:42 am SUJAYAN Nair

      Dear Sir

      I want to know about with is the index cost for capital gain for the financial year 2013-2014.

      Your prompt reply is highly appreciated

      Reply

      • June 6, 2013 @ 7:56 am Joshua

        CII for 2013-2014 has not been declared yet..
        Update: It is declared.. CII for the year 2013-2014 is 939.

        Reply

      • June 5, 2014 @ 10:40 am suraj sahu

        i want to know about index cost land property

        Reply

  5. April 25, 2013 @ 5:45 am Vani Rai

    But Sir,
    Agricultural lands situated within the specified limits(8 km.) from municipal corporation , if sold, the capital gains so arising are Taxable !

    Reply

    • May 4, 2013 @ 3:32 am Joshua

      Dear Friend,
      You are right. And Such Municipality or cantonment board must have have a population of 10000 or more according to the latest census. And I also forgot to mention that Agricultural Lands Sold for Non Agricultural Purpose will be treated as capital Asset and it is clarified in the case Sarifa Bibi Mohamed Ibrahim & others 204 ITR 631 (SC).

      Reply

      • May 7, 2013 @ 7:23 am Vani Rai

        Dear Sir,
        WE have an agricultural property which is situated exactly at 8 kms distance from muncipal corporation(population almost 10000). We are now planning to sell the property. Could u please specify if the sale proceeds so obtained would be taxable or not.
        Thanks & Regards

        Reply

        • May 8, 2013 @ 2:28 am Joshua

          If your property is situated at exactly at 8kms distance then you can claim it as an agricultural Property.

          For your Note the distance from the municipal area is to be measured by approach road and not as per straight line distance on a horizontal plane or as per crow’s flight (Held in the case CIT, Ludhiana Vs Sh Satinder Pal Singh 188 Taxman 54 P&H).

          Reply

          • May 22, 2013 @ 5:54 am Vani Rai

            Thanks a ton on that Sir.

  6. April 26, 2013 @ 11:04 am Sandeep S

    Deal Friend,
    My query is: Is this CII chart only applicable for Long term Capital gains or short term too?
    I mean if I sell my property before 3 years will this CII comes into existence or it would be flat % deduction as per my salary bracket?
    Please help me!
    Thanks in Advance

    Reply

    • April 30, 2013 @ 2:54 am Anne Jose

      The benefits of indexation (CII) is applicable only to Long Term Capital Assets. Short term capital gains (Without indexation) except shares will be taxed at usual slab rates in case of an individual.

      Reply

  7. April 27, 2013 @ 4:47 am K Chennubotlu

    I purchased a residential house in the year 1989 for Rs.2,00,000/- and let it out the same till 2013. In April 2013 I executed a partition deed/ settlement deed, dividing the house in to five equal parts one each to my three sons and one each to myself and my wife. In May 2013 all five of us jointly sold the house and realised a consolidasted capital gains of Rs.1.50 crores. Can this capital gains can be shown @ 30 lacs each to each of the five persons. And If all of us invest individually Rs.30 lacs in specified assets u/s 54EC can we escape the capital gains. Kindly reply
    thanking you

    Reply

  8. May 2, 2013 @ 9:46 am siddharood

    thank you so much for clear information.

    really Gratefull to you sir.

    keep going.

    Siddhu.

    Reply

  9. May 10, 2013 @ 10:09 am Swarupa Y

    What is 2013-14 CII and what should be the amount to be reinvested if the calculations are made with indexation and the capital gain is 42 lacs and tax is 20% i.e. 8,40,000 – question: what should be the investment if need to save on capital tax?

    Reply

  10. May 19, 2013 @ 6:21 pm HEMANT J. SHETH

    How to calculate cost inflation index if property purchased before year 1981 when 1st CII DECLARED? MEANS I PURCHASED PROPERTY IN YEAR 1971 & SALE NOW. THEN HOW TO CALCULATE LONG TERM GAIN?

    Reply

    • May 29, 2013 @ 1:28 pm Hemant Seth

      I purchased a house in Ahmedabad in 1971 for Rs 23000. And sold it at Rs 15 lacs in May 2013. Do I have to pay any capital gain tax on this.

      Reply

      • May 30, 2013 @ 10:57 am Joshua

        [The comment is Updated]
        Friend,
        For Properties Purchased before 1981 the Cost Inflation Index of the year 1981 Should be Taken.

        For your Second Question, the CII for FY 2013-2014 has not yet been declared by the Government as you will be paying tax on this transaction next year only.

        Update: CII for the Financial year 2013-2014 is declared. The CII is 939.

        Indexed Cost of Acquisition : Rs.23000 X 939/100 = Rs. 215970
        Your Capital Gain will be Rs.1500000 – 215970 = Rs.1284030

        Reply

        • June 7, 2013 @ 10:32 am Hardik

          1981 Value of the property is to b found out first and than if its greater than the acquisition cost than indexation is taken on the 1981 value hence decreasing ur capital gain.

          Reply

          • June 10, 2013 @ 1:47 am Joshua

            Thank you for Mentioning that Point..

      • June 17, 2013 @ 11:45 am ASHOK KUMAR

        I PURCHASED A PROPERTY IN DELHI IN 1993 FOR RS.50500.AND SOLD IT AT RS 720000. IN APRIL 2012. DO I HAVE TO PAY ANY CAPITAL GAIN TAX ON THIS . IF YES COMPUTE MY LONG TERM CAPITAL GAIN TAX.

        Reply

  11. May 29, 2013 @ 11:32 am Anil

    Can you please let me know where to lookup the cost of inflation index for manufactured automotive parts in india

    Reply

  12. June 2, 2013 @ 3:23 pm Amogh

    I bought a flat in march 05 for 46 Lakhs inclusive of stamp duty reg. i sold it in dec 2012 for 1 crore. i would like to do the cost indexation for this and put the gains in an REC bond. could someone help me calculate an approximate value for investing into this bond?

    Reply

    • June 7, 2013 @ 10:29 am Hardik

      Unless u r taking any other deduction u/s 54 ur capital gain will come around 1835000. 1cr – ((46 Lakhs*852)/480).
      i.e 10000000 – 8165000 = 1835000. So dis will b the amount u would have to deposit in RCE bonds to avoid payment of capital gain tax which will be in for a lock in period of 3 years.

      Reply

      • June 9, 2013 @ 9:23 am Saurav Pruthi

        Pls let me know why u divide 852 by 480. Wat is 480

        Reply

        • June 10, 2013 @ 2:03 am Joshua

          480 is the Cost inflation Index for the Financial Year 2004 – 2005 (The year when he purchased the Asset) . The 852 is the CII for the Financial year 2012 – 2013 (The year he sold the Asset).

          Reply

  13. June 9, 2013 @ 6:41 pm SET

    Please correct me if wrong. I heard the indexation for the financial year 13-14 is 939. Infact I also want to know if this is correct. Pls reply

    Reply

    • June 10, 2013 @ 1:44 am Joshua

      You are right.. We have updated it..

      Reply

  14. June 11, 2013 @ 6:36 am AA

    Does Section 54EC apply to former citizens of India? The situation is that the person is no longer a citizen of India, but owns residential property to sell in India. Also, it seems the seller cannot own any other property – This person does not own any property in India.
    Can he/she avoid Income taxes on Capital Gains by using Section 54EC to invest in bonds even though they do own property outside of India?
    Also, at the time of completing the transaction, it seems like tax will be deducted at source at 20%. Is that on the sale value or the net Capital Gains?

    THANKS,
    aa

    Reply

  15. June 13, 2013 @ 12:46 pm Prakash Vohra

    I have sold shares on 1st April 2013. I believe CII applicable to Capital gain arising out of this this sale is 939. Is this correct? Please guide.

    Reply

  16. June 17, 2013 @ 2:04 pm Shail

    I bought an apartment in 2007 Dec for around 56 lacs.
    Also, got the possession/registration in 2011 Feb .. do I understand correctly :
    – 3 years term ends in 2014 Feb and after that LTCG can be applied?
    – CII is to be used for 2007 Dec as I have been paying loans etc to banks based on the prices/interest rates then. Not based on 2011 prices when I got the possesion

    Reply

  17. June 25, 2013 @ 10:25 am V K Singh

    I had purchased a flat from AWHO in 2002 for a sum of
    Rs 12.75 lacs. The amount was paid in installments between 1997 and 2002 as shown below:-

    Feb 1999 Regn. fee (incl. interest – 28,866

    5 Aug 97 50% of land cost – 1,00,000

    5 Nov 97 50% of land cost – 1,00,000

    5 Feb 98 Additional land cost – 37,300

    5 May 99 15% cost of DU – 1,35,000

    5 Nov 99 20% cost of DU – 2,18,500

    5 May 00 20% cost of DU – 2,18,500

    7 Nov 00 20% cost of DU – 2,18,500

    5 Jul 01 20% cost of DU – 2,18,500
    ————————————————————————————————————
    Total 12,75,166

    If I sell the house now, what will be the indexed cost? how much long term capital gains will I have to pay? I am planning to build an additional floor in the house in which I live. What is the minimum amount I should spend on this to avoid LTCG Tax?

    Reply

  18. July 14, 2013 @ 6:50 am Ashok

    Sir
    i had sold a property in which land is inherited by me since 1980’s and villa constructed on it in 2011 completed in 2012 and totally sold in sep. 2012. Can i show LTCG for land and STCG for building. And for building can i claim cost of acquisition/improvement as my construction cost?

    Please guide me.

    Reply

  19. July 18, 2013 @ 5:21 am Sangita Singh

    Yes no doubt indexation benefits will be applicable in case of long term capital gain and not for short term capital gain. For long term capital gain the period of holding must exceed 3 years but in case of share period of holding must exceed 12 months only.

    Therefore conclusion is that if your assets is share and you are selling it after 12 months then you will get indexation benefit and in case of other assets you will get indexation benefit only selling after 3 years.

    Reply

    • July 26, 2013 @ 2:16 am Manikandan

      yes sure that benefit will get only after 3 years

      Reply

    • July 26, 2013 @ 6:04 am Satyajit Bose

      Madam,
      As per my knowledge, shares bought by STT paid. Which is completely Income Tax free. All LTCG (STT paid) are such.
      Therefore, no need of indexation for LTCG in shares.

      Reply

  20. August 3, 2013 @ 1:04 pm Durai

    Whether LTCG capital gain invested for a new flat in my son’s name will be eligible for exemption under section 54. If not what will be the tax I have to pay if my investment in 1989 is Rs.300,000.00 and the sale proceeds of the flats that I would sell by Sept 13 would be approximately Rs.50,00,000.00.
    Thanks in advance
    Durai

    Reply

  21. August 5, 2013 @ 3:42 am Gopal Krishna

    I own a flat since 1999. I purchased another flat in 2009 which was under construction. I had taken a loan of 30 lac for purchase of 2nd flat. The 2nd flat is going to be completed and I will take possession in a months time. Can I sell my flat puchased in 1999 and repay Rs 30 lac home loan and claim exemption from Capital gains tax for the said amount.

    Reply

  22. August 13, 2013 @ 8:19 am Himmat

    Dear Sir,

    In regards to a inherited property, can you please explain from which date the property gain tax will be applied from?

    For example, my house was build in 1984 on a agricultural property bought in 60’s. My gradfather passed away in 2000. Now I would like to know that if my father is to sell the property, let’s say in 2014, then from which date will the property gain tax will be applied from?

    a) The date my grandfather passed away OR
    b) The date the land was legally transferred on my father’s name? (in this case 2013) OR
    c) The date property was bought in 60’s?

    Your help will be greatly appreciated.

    Thanks!

    Reply

    • August 14, 2013 @ 3:41 am Joshua

      Hi Himmat,

      When an asset is acquired by gift, will, Succession , inheritance or the asset is acquired at the time of partition of family [….].. , the period for which the asset was held by the previous owner should be included..

      Here the Previous Owner is your Grand Father, so the date of acquisition of Land will be the year 1960. But for indexation purpose you must estimate the fair market value of the Land as on 1st April, 1981.

      The cost of Building will be the Cost of Improvement.

      Reply

  23. August 18, 2013 @ 8:01 am Partha

    Hello,

    I would like to know about short term capital gains.

    I have a flat already in my wife’s name and we’ve purchased another flat in joint name by taking loan from LIC. My queries are as below:

    The previous property was purchased as on 24th March, 2009 (Date of allottment) and took possession on (25/02/2012).

    The said property is still not registered.

    On 9th February,2013 we’ve purchased another flat and the registration and mutation has been done for this one. This has been purchased by taking loan from LIC.

    Now my questions are as below:

    1. We want to sell the first flat which is in my wife’s name by way of transferring the name through the developer by paying a 3% of transfer charges to them. We are taking tax relief on Interest on loan paid and Principal paid on 50% basis as there is a joint ownsership for the newly purchased flat. Can we take tax relief on the sale proceed as per section 54 or 54F on capital gains.

    Say the cost of the first flat is as below:

    Rs. 1,00,000 for Flat
    Rs. 20,000 for Car parking
    Rs. 1000 for Service Tax
    Rs. 500 for Installation of the electricicty
    Total=Rs.1,21,500

    Total Sale Amount Say Rs. 5,00,000
    Transfer Charges Less Rs. 15,000
    Net Amount = Rs. 4,85,000

    1.Here my question is what will be my Capital gains part:
    Rs. 4,85,000-1,21,500
    or the calculation is not correct? Is there any other component I can add on?
    2. As I have already purchased another flat with higher amount say Rs. 10,00,000 and can we adjust the capital gain amount from the newly purchased flat. As the previous flat was in the name of my wife only what amount we can adjust towards the capital gain amount against the cost of the newly purchaed flat and under which section.Also cost of the newly purchaed flat would be amount as per deed of conveyance, registration charges and mutation charges or any other I can include.
    3. By when we need to complete the sale process for adjusting the capital gains part as that has been purchsed during the previous financial year(2012-2013).
    4. For adjusting the capital gains do we need to repay loan principal or only the purchasing of new flat will suffice. What documents would be required to subit to get this tax relief for both the old flat and new flat?

    Reply

  24. August 22, 2013 @ 2:47 pm chirag gajera

    Dear Sir,
    I have cii for year 2013-14 but ‘index cost of acquisition’ to needed so i requet for you.

    Reply

  25. August 24, 2013 @ 11:06 am lokesh

    I purchased a flat in 2002-3 at 5 lacs and sold same in 2013-14 at 22 lacs against a home loan.
    In 2011-12 I purchased a flat at 25 lacs(registry value) with a 25 lacs loan with an annual interest+principle outgo of 3.43 lacs pa.

    my queries are ;
    1. Can i show nil capital gain tax adjusting the capital gain against my earlier purchase.
    2. If not, can I adjust my loan outgo against the capital gain

    Please help

    regards
    lokesh

    Reply

    • September 1, 2013 @ 11:50 am CA Akash Singhai

      Hello

      Lokesh as per the Income Tax act, you can save your capital gain tax by investing adequate amount in another House Property either 1 year before sale or 2/3 year after sale by purchase/construct respectively.
      In your case you bought another flat on 11-12 which is 2 year before the current sale, hence you do not fall under the said clause for saving capital gain tax.
      However still you can make investment for atleast 22-10.5(Indexed cost value)=11.5L in another property to save 100% tax on your gain.

      Secondly your loan outgo has two parts Int+Principal, you can claim Int as house property loss upto the payment of Rs.150000 per annum and payment of Principal u/s 80C upto the cap of Rs.100000. These payments can be settled with any head of your income every year.

      Hope this could solve your queries.

      Akash

      Reply

  26. September 2, 2013 @ 10:46 am Sanjay

    if i invest in property in March 2013 and sell it in April 2015, will it be considered 3 years ( financial year 2012-13 to 2015-16)? does cost inlation index is same for the whole year whether asset is gained in April or next year march..does not matter.

    Reply

    • September 10, 2013 @ 9:48 am Yogendra

      on April 2016, 3 years will be completed. And if you sale in April 2016, then FY 2012-13 and 2016-17 shall be considered.

      Reply

  27. September 5, 2013 @ 11:25 am MANISH T

    Sir
    I had bought a house in Apr 2005 @ Rs 13lakhs.
    Now, I want to sell it on 08 Oct 2013 for Rs 24Lakhs.
    As per my calculation my LTCG is Rs 1,55,493/-
    Can u plz tell if it is correct?
    And also the procedure of informing IT department about utilisation of this amount.
    Thanks

    Reply

    • September 10, 2013 @ 9:46 am Yogendra

      Hi,
      You need to consider CII for year 2005-06 and 2013-14.
      Based on this consideration there is -ve capital gain in this sale. If you have some other LTCG, then you can setoff same with this -ve value or discuss with your CA for more options.

      Reply

    • September 22, 2013 @ 5:23 am ASA investment

      Dear Manish

      The fair value of your property as per cost indexation is 24.56 Lakhs which you have sold to 24 lakhs.There is no capital gain & hence you need not to pay any tax on it.

      Reply

    • September 30, 2013 @ 8:39 am DS Sajwan

      Dear Manish,

      Purchase Value=13 Lakh
      Sale Value=24 Lakh

      Capital Gain=13 Lakh*939/497=24.56 Lakh

      So you dont have to pay any tax

      Reply

  28. September 13, 2013 @ 12:13 am Rajan

    Sir,
    My Grand father bought a house in Apr 1951 @ Rs 10,000.
    Now, I want to sell it on Oct 2013 for Rs 14 Crors.

    What will be the capital gain amount..?
    Which Cost Inflation Index of the year Should be Taken?

    Thanks

    Reply

  29. September 15, 2013 @ 12:14 pm venkatesh

    how is the indexation done for a property purchased in 1974-75 and sold in 2013-14?

    say the purchase price was 30,000 and selling price was 65,00,000? pl revert on the approx tax liability if 35,00,000 was reinvested in a new house.

    also is there a benefit for a senior citizen?

    Reply

    • September 16, 2013 @ 6:00 am Atharv Apte

      you 1st need to find out the fair market value of the house in the prev year 81-82. You have the option to consider fair market value or actual cost as the cost of acquisition (I would suggest take higher of the 2 amounts as it would lower your tax burden). Then use this formula: Cost of acquisition*(CFI in 13-14/CFI in 81-82).
      Subtract it from your net sale consideration and you would get your capital gain.U/S 54 If u have reinvested in another property a year ago or within 3 years you would get exemption for the invested amount upto the limit of your capital gain or if the capital gain is more than re-investment then for the whole value (35,00,000 as you said).

      Reply

    • October 9, 2013 @ 10:34 am vignesh iyer

      first computation of capital gain will be done
      74-75 will be considered at mp during 1980-81 or cost whichever is higher
      so if suppose mp at 1980-81 was 45000 then
      cost(rs 30000) or mp on 80-81(45000) higher of this is taken
      and then fy 13-14
      45000*index value of ay 14-15(presume 1000)/100
      will b indexation cost

      Reply

  30. October 1, 2013 @ 11:08 am jayesh

    Dear sir,

    my query is old gold jewellery purchase in 1-03-1971 of 3000grm rate of 10200/- per 10 grm. amt is 3060000/- that all gold jewellery sale in the f.y 2013-14 date 12-09-2013 in rate of 30150/- amt rs.9045000/- so how to calculate Index cost of aquisition amount.

    plese solve the my query.

    Reply

  31. October 2, 2013 @ 12:14 pm MP

    My mother & brother have jointly purchased an apartment in April which was registered at the guidance value of 30 lacs although the actual purchase price was 68 lacs (with loan of 50 lacs).
    My Mother plans to sell her house in november for 86 lacs which was purchased for 7 lacs in Oct 1991.
    When offsetting the long term capital gains on sale of the house against purchase of the apartment, do we have to consider the registration value of the apartment (30 lacs) or the actual purchase price (68 lacs)?

    Reply

  32. November 2, 2013 @ 10:02 am Sudha

    Sir, when equity shares purchased during the the year 1985 and sold in 2013 can have the benifit of indexation,why not debentures purchased and sold during the respective periods??

    Reply

    • December 10, 2013 @ 6:13 pm CA Karan Shah

      Bcoz debenture are not allowed to be indexed as per the income tax act

      Reply

  33. November 2, 2013 @ 7:44 pm Suresh

    I purchased land in Jan’1984 at jodhpur (Rajasthan) Rs.10,000/- and sold in oct.13
    In 25lacs.
    Kindly inform the amount of capital gain tax with calculations and amount for which i have to purchase tax saving bonds.

    Reply

    • November 18, 2013 @ 6:46 pm hh

      4.85 l in bonds…

      Reply

    • November 23, 2013 @ 12:41 pm Pranav

      Capital gain will be as follows
      Sale Consideration 2500000
      Less: Indexed cost of Acquisition 80948
      So Long Term Capital Gain will Be 24,19,052
      And Tax on the same will be Flat @ 20% Rs. 4,83,810/-

      Reply

      • December 7, 2013 @ 5:25 pm Nitin Gupta

        Hi, request a clarification that in this case how much money needs to be deposited in bonds to avail exemption on tax? Is it the amount equivalent to gain or tax?

        Reply

    • January 13, 2014 @ 9:51 am jugal kishor sud

      Purchased a plot for Rs: 20,000/- during the year 1985-86 and sold the same plot for Rs:9.00,000/- in the year 2013-14. Kindly calculate the capital gain.

      Reply

  34. November 24, 2013 @ 1:04 pm Thomas

    Hi,

    Please let me know the Inflation indexed capital gain for a property which was purchased in 2010 and sold in 2013.

    Date of purchase : 08-Nov-2010 purchase value : 80 Lakhs. Renovation expense : 4.4 Lakhs.

    Date of Sale : 22-Nov-2013 Sale value : 1.05 Crore
    Selling cost : 1 Lakh.
    Based on your updates, if indexation is applied , no capital gain. Please advise.

    Reply

    • January 23, 2014 @ 11:42 am ani

      Correct. Your 80 lacs is equivalent to 10565400.84 in 2013. You can show cost of acquisition as 84.4 lacs only if u have the original bills.

      Without the bills also you can show a loss from property of 565400.84.

      Reply

  35. December 10, 2013 @ 5:54 pm deepak

    Hi sir my mother has purchased one house in 1978 with rs.18000 in 2010 she was expired my father also expired now we are total three owners of the house myself and two sisters now I have to sell this house in this year at rs.1500000 this amount distributed among us in three equal part how much tax I have to pay as capital gain

    Reply

  36. December 12, 2013 @ 9:47 am Suresh Prakash Kabra

    Sir,
    I have purchased MF for Rs 300000/- on 25 Jan 2011 & sold them on 31 dec 2012 for Rs 339507/-.
    Another set of MF were purchased on 28 Jan 2011 & sold on 12 Oct 2012 for Rs 222277/-.
    What will be the capital gain tax with indexation?

    Reply

    • April 18, 2014 @ 2:32 pm manikandan

      Friend first of all your sales is not of long term asset
      Becouse indexation is only for long term asset
      which means you should keep the asset for more than
      36 months
      here ur asset is is short term so capital gain for 1st mf is
      39507

      Reply

  37. December 16, 2013 @ 2:10 pm Bas

    Hello, my parents bought a flat in 1996 for about 10 lacs and spent about 4 lacs doing it up at the time. Both parents passed away and I inherited the flat which I have just sold for 44 lacs this year in 2013. What is my taxable capital gain ? And is iit the amount of the gain that can be invested in bonds and what time frame do I need to invest in bonds from time of sale of property? Any assistance you can provide will be very helpful.

    Thanks and best regards
    Bas

    Reply

    • January 23, 2014 @ 11:34 am ani

      If bought after march 1996 and sold after march 2013…305/- in 1996 is 939/- in 2013 as per index. so you can calculated what 10 lacs then is what amount in your selling year. 4 lacs extra work won’t get you anything unless you have the original bills. Profit calculated this way can be invested in another property within 6 months of selling or invested in infra bonds for 10 years i believe.

      Reply

  38. January 20, 2014 @ 10:36 am Dhaval Shah

    Sir,

    I sold a flat in Jan 2014 at 31.5 lacs which I purchased in Dec 2010 @ Rs. 15.45 lacs in Baroda. Will you please adivse me what amount shall I consider for capital gain.

    Dhaval Shah

    Reply

    • February 13, 2014 @ 4:39 am Monil

      Hello,
      your cost of aquisation Rs. 15.45L is equivalent to Rs. 20,40,443 in 2013. So your capital gain would be Rs. 11,09,557.

      Monil

      Reply

  39. February 2, 2014 @ 4:15 am ramesh

    my father sold gold jwellary inherited from his parents in 2010 without taking bills. can we calculate capital gain tax on this. pls advise.

    Reply

  40. February 3, 2014 @ 4:34 am Laxmi

    Capital gain (Indexed) = 4900000 – Tax@20% 9,80,000
    Capital gain (Non Indexed) = 6300000 – tax@10% 6,30,000

    I want to know, whether i can buy a flat for 4900000(using indexation) or should i be buying a flat for 6300000 to avoid capital gain taxation?

    Many Thanks

    Reply

  41. February 3, 2014 @ 8:35 am Sameer N

    Hello,

    Purchased apartment in Aug 2003 for 7,00,000
    Sold Apartment in March 2011 for 29,00,000

    Entire amount in Capital Gains Saving Account since July 2011

    Considering CII, I have calculated the Capital Gains Tax to be paid = 2,37,365

    Can this tax be saved if I
    1) Invest in an under construction apartment to be completed only by 2015?
    2) In a villa, where Land registration will be done by Feb 2014 and priced at 30,00,000
    Construction of villa will be completed by Aug 2014?
    3) Buying only a plot of land worth 20,00,000

    Or is there any other way to save the tax, say, by now investing into relevant bonds?

    Thanks

    Sameer

    Reply

  42. February 10, 2014 @ 1:26 pm vijay

    i take a 400 sq ft land cum shop @100000/ i sell @525000/ what is my long term capital gain tax how i avoiding it by purchasing bond

    Reply

  43. February 11, 2014 @ 8:07 am Ilyas

    Hi,

    I purchased a property in Nov, 2012 at a price (86L) more then the property (1st house) I sold at(63L) in Jan, 2014. Will i be still liable to pay capital gain tax or covered under the property I purchased a year back?

    please advice.

    thanks

    Reply

  44. February 15, 2014 @ 9:34 am sunil jain

    i(individual)purchased land in rs.8000/-only in 1969 & constructed house on this land in 1970. i have no records for construction cost. now i m selling this property in rs 100 lacks in F.Y.2013-14. how much make long term capital gain tax & how? i need method with example as step by step.
    thanks

    Reply

  45. February 18, 2014 @ 5:15 am Smita

    Dear Sir/ Madam,

    I am NRI and I have purchased property in 2006 for Rs. 3,000,000.00 as per CII 30L*(939/519) = 5,427,745.66
    Capital Gain will be around 2,427,745.66. I understand that to avoid tax on capital gain I need to invest this amount in new property. Here my question is do I need to provide this investment related documents to income tax. And also please help me to provide more details from NRI perspective.
    Thanks

    Reply

    • February 19, 2014 @ 9:54 am Joshua

      Dear Friend,
      Capital Gain is calculated only when you sell the property.. And the capital gain will be Sale Price minus the Indexed Cost.. For example if you sell the Property for 6,000,000, then your Capital Gain will be 572,255 (6,000,000 – 5,427,745). And in case if you sell the property for 5,000,000 you wont get any capital gain.. If you have capital gain you need to invest them in a property or you can deposit the money in a capital gain account scheme at a bank recognized by the Government of India..

      Reply

  46. February 25, 2014 @ 12:39 pm Vijay Kumar

    I had purchased a semi-finished house from a housing society Rs. 4.4 lacs. The amount was paid in installment in 2003-2004. as shown below:-
    01 Aug 2003 Booking Amount – 10,000
    04 Aug 2003 1st Installment amount – 1,50,000
    14 Aug 2003 2nd Installment amount – 73,000
    12 Jan 2004 3rd Installment amount- 1,00,000 Paid By HDFC Bank against Home Loan
    19 Jan 2004 3rd Installment amount- 1,00,000 Paid By HDFC Bank against Home Loan
    20 Mar 2004 Final Balance amount – 7,000 24 Mar 2004 Possession allotment
    Apr to Jul 2004 Expanses on Finishing – 2,10,000
    2005-2006 Cost of improvement of 1st floor- 3,50,000 3 lacs Paid By HDFC Bank new loan
    22 Nov 2012 Stamp Duty, Registration Fees and Legal Expenses- 75,000
    01 Dec 2012 to 31 Mar 2013 Cost of improvement of 2nd floor- 5,25,000
    Total Cost 16 Lacs and HDFC Bank Home Loan Balance 2.7 Lacs
    If I sell the house Apr 2014 on Rs. 30 Lacs and 2.7 lacs loan prepaid to HDFC Bank then how much long term capital gains?

    Reply

  47. February 27, 2014 @ 10:14 am chandrakant

    If I invest a capital gain from sale of residential house into the purchase of Agriculture land within Municipal Corporation or outside municipal corporation and build a farm house. Is the same exempt from capital gains tax.

    Also if tax is payable what is the % of tax payable as capital gain tax.

    Reply

  48. March 3, 2014 @ 2:58 pm K A Patil

    Dear Sir,
    My daughter had purchased a Residential Site 50 X 80 = 4000 Sft on 9 December 1993 for a sum of Rs 1,50,000.00. She was an Indian Citizen at that time. Subsequently she moved to the US and is now a US Citizen.
    She intends to sell this property next month & is likely to get a Total price of Rs 1,60,00,000. (Rs 1 Crore, Sixty Lakhs). She has no intention to reinvest the proceeds & wants to repatriate the same to USA.
    Please advise on following:(1) How much will be the Capital Gain Tax that she has to pay.
    (2) Whether she can deduct property sale & other related expenses like Brokerage, Sale deed cost, expenses incurred on the Corporation Property Taxes paid during last 20 years also expenses on its periodical cleaning and watch / ward etc
    An advise will be appriciated lease
    Sincerely Yours
    K A Patil

    Reply

  49. March 11, 2014 @ 1:47 pm Sridhar

    Hii,

    I purchased a House in 1995 at 3.15 lacs and sold same in 2013-14 at 86 lacs.
    From that amount in the same year 2013-14 I purchased a flat at 25 lacs semi-finished (registered value)& a 19 lacs amount was spent on completion & Interior.
    my queries are ;
    1. What would be my capital gain when cii on purchase is 259 & CII sale is 939.

    Please help
    regards
    Sridhar

    Reply

    • April 10, 2014 @ 4:15 am maithreyi

      8600000-(315000/259*939)-4400000=3057973
      this is covered exemptions under section 54 of income tax act.

      Reply

      • May 22, 2014 @ 5:05 pm santhoshkumar

        please explain 8600000 – ica (1142027)- invest 4400000 then taxable cg will be 3057973 is it..?

        Reply

    • May 2, 2014 @ 12:29 pm Anis Mohiuddin

      What kind of documentation is acceptable to IT against expenses like ‘renovation’, completion of flat, interior works etc. so as to qualify for exemption? Or do they want just a statement of expenses without any pucca receipt particularly for labour charges, transportation of goods etc.?

      Please guide.

      Reply

  50. March 31, 2014 @ 8:04 am raja

    i purchased a plot in year feb., 1994 for Rs. 40,000 & sold it on feb., 2009 for Rs. 400000, what will be capital gain?

    Reply

  51. April 10, 2014 @ 4:22 am maithreyi

    150000-(76550/632*939)=36265. Its a long term capital gains since the period of holding is more than 3 years. Tax amount is 36265*20/100=7253. If your income from all the other sources is less than Rs. 200000(BEL) you can set off the amount.

    Reply

  52. April 29, 2014 @ 7:29 pm sham

    When selling a property held for 25 years can I deduct each year’s maintenence cost, municipal taxes, improvement cost ?

    Reply

    • May 21, 2014 @ 4:16 am hb

      improvement – yes

      All other — tax,maintenence — no

      Reply

    • June 17, 2014 @ 5:05 pm Ritesh

      yes

      Reply

  53. May 27, 2014 @ 11:47 am Suresh

    I bought a flat for 27 lakhs in May 2009 and now I am planning to sell for 38 lakh. How much do i need to pay as tax?

    Reply

    • June 17, 2014 @ 5:05 pm Ritesh

      NIL. as Indexed cost of acquisition is Rs 43.75L and sales price is 38L so Long term capital loss is Rs 5.75L.

      Reply

      • June 27, 2014 @ 7:27 am Vipin

        I think you can help me! I bought a residential plot land in 2002-03 for Rs. 2 Lakhs. I sold it in 2014-15 at 16 Lakhs. Further I bought a residential land for Rs. 10 Lakhs from the sale proceeds. Can the capital gains be set-off against new land purchase else what is my liability.

        Reply

        • July 2, 2014 @ 11:27 am mahadev somappa masaguppi

          I had Purchased open plot on 18 day of Dec. 2010, for Rs. 240000/- constructed building on the same plot by spending Rs. 800000/- now i am selling the ground floor for Rs. 1500000/- i remain in the 1st floor. what is the capital gain & what is the Tax . i am selling the same property in the month of jully 2014

          Reply

  54. May 30, 2014 @ 6:55 am Vivek

    Hi,
    I have bought a property for 2990000/- and paid 265000 for registration and invested 350000 for wood work in year oct-2006.
    Now I am selling it at 8100000 (1% TDS deduction so selling at 8019000/- and 50000 agent fees as brokrage.
    Please let me know how much will be my capital gain tax.

    I am planning to buy another property in next 4-5 months hence please let me know how long I can hold my money and not to pay tax.

    many thanks in advance
    thanks
    Vivek

    Reply

    • June 24, 2014 @ 6:35 am ramesh p

      I booked flat in march 2007 . got possession in october 2009 . cost of flat Rs.29.92 lacs +registration exp Rs.1.62 lacs +
      other exp. like mseb ,security deposit ,soc ,charges total rs.1.17 lacs (.55+..51+.11 ). further spent on modernising of kitchen and flooring costing Rs. 2/- lacs.( bills not available ) . Now I have a purcheser for Rs. 80/ lacs. what will be my capital gain if I sell. flat is in two names 1st name is of me wife and 2nd is mine. If we use entire capital gain amount in paying to developer for a flat already booked in oct 2010 ( in the names of my wife and myself ) and possession of same is expected in 2018 can it be allowed .
      Thanks in anticipation of early reply .

      Reply

  55. June 3, 2014 @ 11:37 am krishna

    purchased a land in 1982 and constructed a house in 1995 but don’t have any bills of constrcution and sold this property in 2009 for 21 lakhs. How can we calcite price of acquisition and capital gain tax. Please advice.

    Reply

  56. June 8, 2014 @ 6:03 pm debashis ghosh

    Purchased a flat for investment purpose and recently got possession of the same. What would be the date of acquisition ? Date of allotment or date of possession or date of registration [yet to be done]

    Reply

  57. June 23, 2014 @ 6:28 pm sakshi

    purchased a property and the installments paid are 5/95- 15000, 2/96-65000,8/96-64000,12/97-48000,4/98-73600,10/98-57600,5/00-80000 so total is – 402200…sold on 20/06/2014- 5600000.
    please let me knw long term capital gain and tax…thanx

    Reply

    • September 10, 2014 @ 4:14 pm harisha

      My father bought a site in 1972 for Rs.2000/-(actual registered price is Rs.500). He died in 1975. Mutation was done in one of the three brothers name(A). This land was sold in FY 2014-15 for Rs.4000000/-, Entire sale proceeds are utilised by the son in whose name the propery is mutationed(i.e.A) as A. The sale Deed mentions the sellers name as A. The other two brothers do not wish to claim the share in sale amount.. My query is:

      whether I can purchase a new property in my individual capacity and claim deduction of entire capital gain arising on sale of said land.

      Reply

  58. July 2, 2014 @ 10:40 am D N SHAH

    My father purchased a residential property in 1969 for RS 98,000.00 He passed away in 2012 June & now the house is in joint names of we two brothers 50 % each. now we plan to sell this property for RS 18.5 Cr. what will be rate able value of this property & if we both buy separate house for say about 6 Cr each what will be capital gain applicable.

    Reply

    • July 15, 2014 @ 9:10 am Sudeep

      Dear Shah,

      You have to get the that property valued by registered officer as on 01.04.1981. Suppose the authority says the value of the said property on 1.4.1981 was nearly 10,00,000/- then your cost would be 1000000/100*1024=93,90000 and your sale vale is 13.5 crores.

      Capital gain is about 12.5 crore and individually it is 6.25 crores. you can invest in new property and avail the exemption u/s 54 provided you dont have more than 2 houses including the new one.

      [In order to protect the privacy of our users a Phone Number or Email Id is removed from this comment]

      Reply

  59. July 17, 2014 @ 6:59 am Balaji

    Few Questions with respect to this:

    1) What is meant by Cost of Property? Is it the purchase price of the property by itself (or) Can Stamp Duty + Registration be added to calculate the same? (since they were cost to the buyer while purchasing the property)

    2) In my situation, the bank loan is not closed with a few lakhs remaining. I want to sell the property if a proper buyer approaches. In this case bank will only return the money after deducting the reminder of loan. Since that being the case, What will be the selling price of the property? Is that the actual selling price (or) the amount that is left in my bank account after the loan reminder is deducted by the bank

    Please do let me know. Thanks.

    Reply

  60. August 15, 2014 @ 6:43 am Nihar Pal

    Sir,
    I have 2 FMP-Debt Funds maturing this financial yr 2014-15. They are for 1095 days. My query is will these FMP be eligible for LTCG under the new rules governing Cap gains?
    Thank u
    Nihar

    Reply

  61. September 9, 2014 @ 3:20 pm Darpan Patel

    Hello,

    Thanks for useful information. I’m currently looking for a cost of inflation index value for the year 1967-68. Would you be able to retrieve this data?

    Reply

    • November 11, 2014 @ 12:16 pm Anup Mukherjee

      Inflation index was not applicable for 1967-68. You have to estimate the market value in 1981 and apply the index of 100 on that.

      Reply

  62. November 25, 2014 @ 12:18 pm vinay kumar

    m/s ”p” brothers Ludhiana running an industrial unit were order by municipal cooperation Ludhiana to shift there consider from urban areas of Ludhiana they shifted they consider during the previous year 2014-2015. in this year the company sold some of assets.

    Reply

  63. December 14, 2014 @ 3:05 pm Vikram M

    I am planning to sell my house which i acquired in 2007 April (booked in August 2005 and occupied in April 2007) at INR 25 lacs.
    It will possibly sell now for INR 1.32 crores. What would be the capital gains on this transaction if i do go ahead? For the amount that is not counted as capital gains , may i imvest it anyhwere (bank , stocks , FD etc)?. regards Vikram

    Reply

  64. December 16, 2014 @ 2:18 pm Bala PV

    Hi – Facts as follows:

    Purchased Site in March 1992 = Rs. 80,300
    Sold House on 13 November 2014 = Rs.56,25,000
    Index in year of purchase = 223
    Index in year of sale = 1025

    Indexed Cost of Property = Actual Purchase Price * (Index in year of sale / Index in year of purchase)
    i.e.
    Indexed Cost of Property = 80,300 * (1025 / 223) —- Rs. 369091.9282511211
    Sale Amount = Rs.56,25,000
    Capital Gain = 56,25,000 – 369091.9282511211 = Rs. 5255908.071748879

    Out of Rs. 52,55,908, i have reinvested Rs. 4275000 (incl. registration) in another property on 29th November 2014 and have kept the remaining Rs.10,00,000 odd in Capital Gain.

    Kindly confirm if I’m well within the fence of rules. Thanks in advance.

    Regards,
    Bala.

    Reply

  65. February 14, 2015 @ 3:20 am Jaya

    Purchased a land on 23rd November 2012 sold it in January 2015. Purchase and sale price 2016000 and 3500000 respectively. What’s the tax amount? Pls help

    Reply

    • March 11, 2015 @ 6:49 pm Haresh Gursahani

      You have to pay Short Term Capital Gain Tax of 30 percent on difference of cost and sale price.

      Reply

  66. February 17, 2015 @ 11:21 am rao

    Sir, my father booked a commercial office in 1985. And paid about Rs.80K before his death which was in 1994. But the building was not completed for more than 20 years and recently it got completed.
    Now we want to sell this property and we are four siblings to our father.
    There is no will and we want to sell and give a major portion to our sister.
    What will be the capital gains tax to each of us.

    thanking you in anticipation of a quick reply.
    regards
    rao

    Reply

  67. February 19, 2015 @ 7:01 am MRJoshi

    My querry: Residential property in Aurangabad (Maharashtra) purchased in 1970 for Rs.39,000/-. Addition of two rooms in the property in 1995 at the cost of Rs.1,25,000/-. Hope to sell the entire property in Feb/Mar 2015 at Rs.67,00,000/-. How much capital gains tax would be and what would be the tax I would have to pay and to nullify the total tax payable, how much capital infra structure bonds need to be purchased.I am 70 yrs old, Immediate advice would be highly appreciated. MRJoshi..

    Reply

    • February 26, 2015 @ 5:07 am ramesh

      my case is the same pl reply

      Reply

    • January 17, 2016 @ 12:57 pm vyshak

      TAX AMOUNT:1169025
      YOU CAN SAVE TAX :
      1 You can save Capital Gain by investing capital gain amount Rs :5845124/-in New House(purchase/construction u/s 54

      2. New House construction must be completed with in three years from date of transfer of old House i.e Construction can started before sale of old house (1/2/2018)

      3. New house can be purchased with one year before and two year after date of transfer of old house i.e start date:1/4/2014 end date:1/2/2017
      4. You can not sale New house before three completion of Three years from date of purchase/construction

      5.You May save capital gain Rs :5845124/- by Investing capital gain amount Rs5845124/-(maximum 50lakh in Financial year) in capital gain bonds of REC /NHAI with in Six Months from Date of sale u/s 54EC ( start date: 1/3/2015 end date : 7/2/2015

      Reply

  68. February 26, 2015 @ 5:22 am ramesh

    I have purchased a house in 1962 for Rs. 18000/- and constructed first floor by Rs. 1,50,000/-in 1970 i intend to sale the said property in March 2015. Please guide me how much tax i have to pay if i will sale the said property in Rs.50/- lacs. Pl send your reply on my email.

    thanking you

    Reply

    • March 16, 2015 @ 10:47 pm R.a.Gupta

      Capital gain for f.y 2014-2015 for building in Delhi

      Reply

  69. March 2, 2015 @ 11:28 am Amit Mistry

    Sir, My father purchase house in the name of my Mother in 1982 @ Rs. 90,000/-. Now my Mother and Father both died and i transfer property in my name in 2012. Now i decide to sell out property which market value is Rs. 22 lacs. Please guide me weather Capital Gain is applicable to me. If applicable the how much i have to pay CGT on sale of property.
    Awaiting your reply.
    Amit Mistry

    Reply

  70. March 25, 2015 @ 6:31 am Giri

    If the Indexed cost is matching to Selling price, do we have to do something like filing zero return etc.?
    If we do not have receipts for the construction of house done 33 years ago or modifications done thereafter, can we consider & show them for calculation of Capital gain?

    Reply

    • April 5, 2015 @ 9:43 am dev

      What is the meaning of index cost of acquisition?
      Why index cost is calculated if purchase price is given

      Reply

  71. May 12, 2015 @ 6:11 am S.V.Ramarao

    Cost of the Land Rs. 1,12,000.00
    Stamp Duty Rs. 16,800.00
    Construction Cost Rs. 8,47,000.00
    ============
    Total Value of the Property Rs 9,75,800.00
    ============

    Date of Purchase of Property (Nanganallur) .. 03/03/1997
    Date of Sale of Property (Nanganallur) .. 03/06/2014
    CII of year of Purchase .. 305
    CII of year of Sale .. 1024
    So, CII factor is .. 3.357
    So index Cost of Acquisition Rs.9,75,800 x 3.357 .. Rs.32,75,760.00
    Sale of Property for .. Rs.57,00,000.00
    Capital Gain in this case .. Rs.24,24,240.00
    During the FY 2014-15 amount invested in
    property:-
    1) Bangalore Apartment
    Cost of the Property .. Rs.17,56,250.00
    Construction Cost .. Rs.15,84,000.00
    Stamp Duty .. Rs. 1,17,525.00 .. Rs.34,57,775.00

    Reply

    • May 19, 2015 @ 4:23 am vincent w miranda

      sir
      I own a apartment built on 1/6 undivided share (six owners) for Rs; 90000/-(regn cost included) in the year 1998, and construction cost at Rs 750000/- bills not available in the year 2000.

      I intend to sell this apartment in next 20 days.. before 10th June 2015. approx at Rs. 41.00 lakhs.Do I get the indexation benefit, considering that I don’t have bills for construction.

      I have bought one more apartment (presently residing) as on 13th June 2014. (date of registration) with the assistance of financial institution of Rs 36 lakhs. I intend to repay Rs: 1000000/- to this loan once my sale transaction of the first apartment gets completed, hopefully before 13th June 2015.Do I get exemption under ”one year prior”clause.

      kindly help

      vincent w miranda

      Reply

  72. May 25, 2015 @ 1:25 pm Vincent

    I wish to know information on the following.
    I intend to sell my apartment at Bengaluru for a consideration of 40 lakhs. This apartment was built on 1/6 undivided share of Rs 90000/- (including stamp duty) in the year 1998 and finished construction @ Rs. 8.00 lakhs in the year 2000.(bills partly may be available). What would be my indexed appreciation?
    I also would like to pay portion of this sale consideration towards the loan availed from financial institution towards my new property registered on 13-6-2014. Whether I will be covered under one year PREVIOUS clause.
    Kindly help

    Reply

    • June 8, 2015 @ 7:31 am kanav gupta

      Yes you can pay the amount of this sale consideration if new property acquired is also residential….and you can have exemption under section 54 only that much amount that was earned by you in previous sale as a long term capital gain….if you sold the new property within 3 years your exemption would be withdrawn and would befully taxable and your total long term capital gain is RS1703837…as indexed cost of your apartments is 2296163

      Reply

      • July 31, 2015 @ 11:47 am Vincent

        Dear Mr Gupta
        Thank you for your reply.
        Kindly note I have already paid 900000/- towards part clearance of 35 lakhs loanof my new property DT 12.06.2014..I shall continue to pay the balance in EMI.
        Kindly help me whether I will be exempted, considering my new property is valued @ 48 lakhs including registration of which loan is 35 lakhs
        Kindly help

        Reply

  73. June 17, 2015 @ 6:20 pm BUDHI PRAKASH LODHA

    Purchase in 1991-92 Rs. 152001/-
    Addition in 1996-97 Rs. 50100/-
    Addition in 2012-13 Rs. 23351/-
    Total Cost Rs. 225452/-
    And Sold Rs. 3500000/- on 27.05.2015
    How much Tax Payable ?

    Reply

    • July 13, 2015 @ 9:01 am ganapathi

      Purchased a flat in Chennai Ashoknagar in 2004/2005 for Rs, 26 lakhs. Trying to sell it now, wbich may fetch around 65 to 70 lakhs. What would be the capital gains

      Reply

  74. June 17, 2015 @ 6:27 pm BUDHI PRAKASH LODHA

    Plot Purchase in 1991-92 Rs. 152001/-
    Addition in 1996-97 Rs. 50100/-
    Addition in 2012-13 Rs. 23351/-
    Total Cost Rs. 225452/-
    And Sold Rs. 3500000/- on 27.05.2015
    How much Tax Payable ?

    Pls also inform Capital gain Tax saving schemes.

    Reply

    • December 25, 2015 @ 5:36 am shariq

      Hopefully ….
      6,85,754 is taxable …

      Reply

    • January 17, 2016 @ 12:41 pm vyshak

      TAX SHOULD BE : 493422
      SAVINGS:
      1.You can save Capital Gain by investing capital gain amount Rs: 2467111/-in New House(purchase/construction u/s 54

      2. New House construction must be completed with in three years from date of transfer of old House i.e Construction can started before sale of old house 26/05/2018

      3.New house can be purchased with one year before and two year after date of transfer of old house i.e START :28/5/2014 ENDED:26/5/2017

      4. You can not sale New house before three completion of Three years from date of purchase/construction(Depend upon purchase /construction date of new house)

      5. You May save capital gain Rs :2467111/- by Investing capital gain amount Rs2467111/-(maximum 50lakh in Financial year) in capital gain bonds of REC /NHAI with in Six Months from Date of sale u/s 54EC (START DATE:27/5/2015 END DATE:26/11/2015

      Reply

  75. June 18, 2015 @ 5:17 am Jon

    Hi,

    When will the Cost Inflation rate for F.Y 2015-16 will come

    Reply

  76. June 22, 2015 @ 9:47 am eserviceshelp.in

    Really helpful for the purpose of calculating capital gain

    I was just calculating the long term capital gain on Sale proceed of Rs. 53.00 Lac which we received in f.y.2014-15 and property was actually purchased in f.y 2010-11 about 30.00 Lac

    Reply

  77. June 22, 2015 @ 2:27 pm M.K. SHARMA

    I PURCHASED A RESIDENTIAL BUILDER FLAT FOR MYSELF IN OCTOBER 2004, FOR RS. 5 LAKH + 40000/-AS REGISTRATION CHARGES. I PAY RS. 45000/- ,APPROXIMATE, EVERY YEAR AS INCOME-TAX AFTER APPLYING ALL SAVING ASPECTS. I AM CONSIDERING RESETTLE MY FINANCIAL AND RESIDENTIAL PLANNING TO ESCAPE THE INCOME-TAX LIABILITIES. PLEASE SUGGEST ME WHAT CAN I DO IN RESPECT OF THIS ? THANK YOU.

    Reply

  78. July 9, 2015 @ 4:54 am Sathish

    I purchased property in the year 2001. 7,00,000
    I plan to sell in 2015 30,00,000

    What will be the capital agains payable ? If I am not investing the proceeds in another property

    Reply

    • August 11, 2015 @ 8:19 am Alkaf Ganiwala

      Type of caipatl gain – Long Term as property owned for more than 36 months

      Sale proceeds – Rs 3000000
      Cost of Property – Rs 700000
      Inflated Cost – Rs 700000*1086/426=1784507
      Capital gain – Rs 1215493
      Rate of Tax – 20%
      Tax Liability – Rs 243099+ 3% cess
      Total – Rs. 250392

      Reply

  79. July 13, 2015 @ 9:05 am ganapathi

    purchased flat in Ashoknaar in 2004/1005 for about Rs.26 lakhs,
    Trying to sell and may fetch a price of around 60 to 65 lakhs,
    What would be the capital gains pl?

    Thanks.

    Reply

  80. July 13, 2015 @ 3:17 pm mandigal

    sir please clarify:
    my self and my wife are equal/50% owners of flat at Chennai. my wife also owns another house at chennai bought in 1990 which she wants to dispose now.Please clarify whether she can buy another flat out of the sale proceedings to avoid long term tax liability, while she has 50% of ownership in another house as stated above.
    thanking you

    Reply

  81. July 22, 2015 @ 6:23 am Diviker

    Sir
    I purchased a flat in Hyderabad in 2010 for total of Rs. 57 lakhs (1800 sft) in a multi-story building
    In 2011 the builder charged me for 2 car parking spaces + 2 years of maintenance fee + corpus fund + common gas pipeline for a total amt of Rs. 4 lakhs.
    Therefore, my total purchase amt in 2011 was Rs. 61 lakhs. However, the sale deed has the purchase price of Rs 21 lakhs.
    I have paid annual property tax of around Rs. 15000/- per year (totaling to Rs. 75,000/- till date)

    Now I plan to sell the flat for Rs. 90 lakhs. Taking into account this year’s CII as 1024,
    1) what would be my capital gain with the current CII (1024)?
    2) how can I reduce tax burden on my capital gain?
    Thank you

    Reply

  82. July 25, 2015 @ 4:58 am P.Padmanabhan

    Respected Sir,
    My case is an undivided family made of father/head fo family (P), wife(R), and only adult son (U) . He is US citizen and an Overseas Citizen of India (OCI) too.
    Total agri land holdings are 45 acres. An item of 205 acres are under contemplation of sale. Liklely price is Rs.4,00,00000/- (four crores. ) The land is within 2 ksm radius from the radius of limits of the nearby by municipal town having a population of 10960 people. The land is ancestral having passed on from generation to generation. P got the half of 21-5 acres by partition in the yeaar 1959 and rest common half from his paternal grandfather by registered settlement in the year 1976 or 77. That in the original partition fo the year 1959 both were common owners of the property. From 1976/77 onwards P has been the sole owner. P and R were married in 1974 and U was born in 1977. P has not been assessee at all whereas R is and U has been assessee in the USA. All three of has pancard and their HUF has its pancard too All three of us have individual Bank account . The HUF has opened its bank account too.
    1What will be the capital gain liability if sold at 4 crore?
    2, What would be unit of assessment? That is HUF or individual?
    3. Will there be any additional tax to the capital gain.
    4.can the son U sell his common half share in the property first by power of attorney in favor fo mother ro father ? And later say after a week father himself sells his common half to the same buyer and if so can the capital gain be apportioned between them ? so will be the capital gain liability too?
    5. What are the ways to minimise the capital gain . Say, can it be invested in any government securities and claim tax exemption?
    6.Can the capital gain be invested in acquisiiton house or land? r

    Reply

    • March 11, 2016 @ 3:23 am Amit

      You have made a lot of money & can afford the fees of an chartered accountant. So, please consult one

      Reply

  83. July 28, 2015 @ 11:20 am I P Singh

    I booked a flat in Dec’2006 & got possesion in Sept’2007. Which financial year shall i take as year of purchase ?
    Can i take parking money , club membership, club sinking fund & maintenance amount in the cost of aquisition.
    I provided wardrobes in the rooms & kitchen & spent some 96K on the same. I have no bill . Can this be added in the cost of acquisition. Similarly, i spent money on buying some loose furnitur as well as ACs for giving my flat on rent as fully furnished. Can this cost be also included in the cost of acquisition. I have some bills in this case. While selling, i am selling the flat with parking, with club house & with all the losse furniture as well as the fixed wardrobes all as a fixed one price

    Reply

  84. August 21, 2015 @ 12:31 pm DIPAKKUMAR

    PUCHASSES LAND-RS121000-15.44DISMILDATE25/06/1999
    SELL-RS600000-3DIS-25/06/2013PLESS CALCULLATE CAPITAL GAINS

    Reply

    • December 20, 2015 @ 1:02 pm Swpnil

      Calculation of capital gain=
      Sell Price-(purchase price X CII of 2013)/CII of 1999
      =600000-(121000 X 852)/351
      =306290 approx.

      Reply

    • January 17, 2016 @ 1:04 pm vyshak

      tax :61584

      Reply

      • January 17, 2016 @ 1:05 pm vyshak

        long term capital gain :307920

        Reply

  85. September 12, 2015 @ 4:10 am prakash modi

    I purchased agricultur land in august 2011 within the municipal area. In year September 2014 i sold this property. whether i have to pay capital gain in this property? can i save capital gain in investing in other agriculture land? I also purchased agriculture land in February 2014. Can i take advantage of capital gain investment in this property?

    Reply

  86. October 4, 2015 @ 4:20 pm Ray

    We have a ancestral property which was in my fathers name. As my father died we got the property transferred to my mother and brother and sisters names, by way of succession Deed.
    If I sell this property today which would fetch me 1.20 cr. what would be my capital gains and would the others also be affected for capital gains even if I would take all the proceeds in my name?
    Please advice.
    Thanks

    Reply

    • December 6, 2015 @ 7:31 am CA. MUNDAS VEERENDRA

      If it is ancestral property all the beneficiaries would be liable for capital gains tax according to their share. The CG tax will be distributed among the beneficiaries.

      Reply

  87. December 15, 2015 @ 9:34 am sam

    I bought a flat in 2007-08 for 22 lakhs and sold it for 40 Lakhs in 2014-15. Using the index for these years, brings my long term capital gain to negative (~80,000). What does that mean for my taxes?

    Reply

    • February 29, 2016 @ 1:00 am Manjula

      I want to know how to calculate capital gain

      Reply

      • September 13, 2016 @ 10:12 am Srinivas kavuri

        Calculation of capital gain=
        Sell Price-(purchase price X CII of year of sale)/CII of year of purchase
        Say. if you purchased in 1998 for Rs500000/- and selling for Rs7500000/- in 2016 The calculation will be :

        7500000-(500000X1215)/351=
        7500000-1730769=57692321

        Reply

  88. December 19, 2015 @ 2:09 pm Rahman

    I would like to calculate capital gains.

    My share of Property area is around 350 sqft.

    Property inherited by me from my father on 22.9 2015

    My Father died on 21.9.2015

    Sale value as on 2015 is Rs. 12,000 per sq ft; Rs. 42,00,000

    My Father got the property settled in 2008 thru settlement deed from his sisters who in turn got inherited from their father in 1993

    Earlier the property was purchased by my father’s father i.e my grand father in the year 1939 thru sale deed. Cost not known.

    Now I need capital gains tax computation.

    Appreciate any help in this regard.

    Thanks in advance
    Rahman

    Reply

  89. March 21, 2016 @ 2:12 am Shaheen

    Dear Sir/Mam

    I have booked SECOND house in January 2014. Registration & Physical Possession of SECOND HOUSE have been completed in March 2016.I have sold a plot in March 2016. This Plot was purchased in September 2011. My question is Long term capital gain tax on sell of Plot would be exempted as i have registered second home in March 2016 itself. I mean Purchase of second property will be counted from date of booking (Date of Builder-Buyer Agreement) or date of Registration and Physical Possession?

    Reply

  90. April 20, 2016 @ 6:42 am Sreenivasulu

    when i am at 5 years old in 1975 my father had purchase one agrilnd. i have the rights on that asset after i became a major in 1988. In the year 2015 i sold that land. for calculating of capital gains which year’s CII i can take. kindly give suggestion.

    Reply

    • July 2, 2016 @ 6:33 am SANDIP ASWALE

      1ST PLEASE CONFIRM THE LAND IS URBAN OR RURAL AGRICUL. LAND

      Reply

  91. May 6, 2016 @ 8:15 am A D MEHTA

    I got possession of a flat from the builders in 2011. Where as my payment of instalments started from 2005 and over 95% was paid up by 2008. Can I claim indexation on each payment made from the date of payment till date of sale for calculation of capital gains on sale of property.- or is only from the date of possession till sale date.
    Can i please get a clarification. Many thanks.

    Reply

    • July 2, 2016 @ 6:29 am SANDIP ASWALE

      YOU CAN CLAIM ONLY DATE OF POSSESSION TO DATE OF SALES FOR PUPOSE OF INDAXTION COST AND NOT FOR DATE OF PAYING THE INSALMENT

      Reply

  92. August 4, 2016 @ 1:40 pm akilandeswaran

    DEar sir,
    i have purchase a 2bhk for 2.95 + approx 0.5 for registration and water+ eb connection etc. in the financial year 2001-02. now i am going to sell the house for a sum of 34lacs.
    indexation cost works out to be approx 9.4lacs . the house is in mortgaged for a sum of rs 7.5lacs.
    my query is whether this loan will be taken for capital gain rebate as i have to pay and release the document from the bank.
    kindly clarify to my email if possible pl

    Reply

  93. August 8, 2016 @ 11:20 am Sumita kumari

    I Bought a small flat in 2001 in 202015rs. Now after an order of supreme court the flat is demolished by regional authority and on supreme court order I received a compentation of 220200 rs. Kindly inlight me if compentation money will attaract capital gain if yes what is the amount I need to invent in capital bond and how? My mail id “sumita704@gmail.com”

    Reply

  94. September 13, 2016 @ 3:59 pm priyanka

    why is the cost inflation index prior to 1981 not shown. so how is the tax caluclated on the property which is bought prior to 1980 and sold in 2005. can u help me

    Reply

    • September 15, 2016 @ 1:04 pm Joshua

      Cost Inflation index for any year prior to 1981 will be taken as 100

      Reply

    • December 30, 2016 @ 8:56 am veeresh bangarshettar

      Veeresh, I am selling the commercial open land of 1500sqft.which I got from my grandfather purchased in 1978,40,000sqft for approximately 10000/,now I am selling it for 10lk.and thinking of purchasing of agricultural land in rural area, so what will be the capital gain tax that I have to pay.

      Reply

    • February 2, 2017 @ 11:49 am nandan jha

      What is purchases for that time

      Reply

  95. September 26, 2016 @ 4:08 am Siraj Ahmad

    purchase land 1992 @1200/-per viswa

    Reply

  96. November 18, 2016 @ 12:50 am shravan

    i have purchased a flat in the year 2004 for rs3.5 lakhs now am selling 17.5 lakhs is there tax to be paid on this

    Reply

  97. November 27, 2016 @ 6:13 am k venkata rao

    fully pursue and explain clearly about the capital gains

    Reply

  98. December 26, 2016 @ 4:46 am Subhash Chandra Singh

    very useful information sharing to understand Capital Gain Value

    Reply

  99. December 26, 2016 @ 10:25 am VINOD

    If a house purchased in Jan 2013 for 8 lakhs and availed bank loan of 20 lakhs for construction (loan amount was paid to seller by bank), paid 10 lakhs to bank in last rears including 1.2 lakhs principle amount. If the property was sold for 51 lakhs in Jan 2017. Pse calculate the tax to be paid.

    Reply

  100. January 3, 2017 @ 2:29 pm Sonu kumar

    It is described very simple way any time you read this article you can clear your doubt about cost inflation index

    Reply

    • April 21, 2018 @ 5:17 am V Subramanian

      Hi,

      I purchased a flat in April 1998 for Rs. 12,75,000 and sold in April 2018 for Rs.11,000,000. What is my CGT?

      Regards,
      Suresh

      Reply

  101. February 6, 2017 @ 6:46 pm Anup Kanti Das

    Sir,my uncle purchased a flat on august 2010 of Rs-392000 and sold on sep 2016 of Rs-1400000.so please tell me long term cap.gain and short term cap. gain and tax of this property. if possible send me calculated figurs for the same on email anup.das.vet@gmail.com

    Reply

  102. March 17, 2017 @ 7:08 pm Aman

    How to calculate capital gain

    Reply

  103. April 24, 2017 @ 6:48 am Rakesh

    Full consideration of House paid in 2004, Possession given in 2005, Registration done in 2010 . Please let me know from which date to calculate indexed cost of acquisition (purchase) . Thanks

    Reply

  104. May 25, 2017 @ 5:47 am Ramesh kohli

    Please comment on calculation of indexing 1956 purchased property for Rs.1000/- now being sold for Rs.2.9crores.

    Reply

    • May 27, 2017 @ 6:22 am Antony Joshua

      For properties sold upto 31.03.2017,
      Index of 1981 should be taken as index value for property purchased upto 01.04.1981

      Reply

    • July 22, 2017 @ 1:06 pm jatin

      Give me details regarding cost of improvement on the asset after 01/04/1981. then i will ascertained.

      Reply

  105. June 15, 2017 @ 9:37 am Hiren

    The revised rates as mentioned by you is from 01/04/2018. Shouldn’t is be applicable from 01/04/2017

    Reply

    • July 22, 2017 @ 1:04 pm jatin

      It was applicable from the date of 01/04/2017 i.e, computation of income is taxable in the Assessment year 2018-19.

      Reply

  106. June 27, 2017 @ 11:29 am Narendra

    I purchased a 2BHK flat in 1987 at cost of Rs 1,06000. Now I want sale it at cost of Rs 32.5 lakhs.
    I have two questions to asked:
    1. which CII table to be used for calculation of LTCG tax i e 1981-2017 (old ) or new which introduced in this FY i e 2001-2017.
    2. My tenure for holding property covers both tables i e 1987 to 2017.

    Please advise me at your earliest.

    Reply

  107. July 15, 2017 @ 5:32 am u.s.kini

    How to know the market fair value as on 01.04.2001 of Flat purchased in 1994-95 so as to calculate indexed capital gain for sale in 2017-18

    Reply

  108. July 18, 2017 @ 10:32 am Prabhat

    For inherited property of 1991 bought for 3 lacs not sold on 31st may 2017 for 90 lacs what will be the indexation calculation?

    Reply

  109. July 20, 2017 @ 9:28 am SNEGI

    flat purchased in delhi 1989 for 2.5 lac. sold in 2017 for 85lac. whats the Capital gain? as per new norms all properties purchased before 2001 would have to take index of 2001 as base yr. so is it that the property is first indexed from 1989 to 2001 (to arrive at the FMV considering the inflation) and then again it is indexed from 2001( base yr.)till 2017(sale yr.) ??

    Reply

  110. July 23, 2017 @ 5:27 am Harish Chander

    I have purchased a plot on 20-10-2005 and sold on 22-08-2016. When I purchased circle rate was 400/- & whom sold rate was 1900- profit was Rs 1500- per sq MTR total lot area was 120 Mt . Total project 1,80,000. Please calculate my taxable amount I am in 20/’ percentage slab

    Reply

  111. July 25, 2017 @ 6:16 am vinay

    My mom has sold a plot and she is transferring the entire amount for me to construct a house whose plot is registered in my name. So should my mom have to pay tax for the capital gains?

    Reply

    • September 3, 2017 @ 11:05 am Yash

      No..any gift received from relative is exempt..!!

      Reply

  112. September 28, 2017 @ 7:48 am VISHAL AGARWA;

    I HAVE A PARENTAL PROPERTY BOUGHT IN SEP 89 BUY VALUR 6,86,630.00 SO WHAT SHALL BE ITS INDEXED VALUE AS ON DATE

    Reply

  113. October 3, 2017 @ 5:38 am Deb Dutta

    Hello Sir,
    My mother having a plot at Dumdum(kolkata), which was bought by her father on May1981 on cost of 3000/-.
    Now she wanna sell that on 24lks.
    How she can calculate the valuation of 2001 and 2018 of that plot ??
    How to calculate capital gain and where to invest ??

    Thanks & Regards
    Deb

    Reply

  114. October 7, 2017 @ 9:45 am suresh babu

    I have purchased a plot in 2006 for Rs.300000 and now I have sold it in 2017 for Rs.2000000. so please tell me long term cap. gain and short term cap. gain and tax on stcg. If possible send me calculated figures for the same on mail.

    Reply

  115. October 16, 2017 @ 6:52 am rajesh

    Sir i purchased my flat in f.y 2004-2005 for 468000 &sold in 2017 at 2400000 kindly let me know my capital gain.Where can i invest the capital gain in govt bonds & what will be the interest & locking period. Will the receivable interest be taxable?

    Reply

  116. October 21, 2017 @ 9:31 am malcolm

    Dear Sir,
    Following are the details of property for capital gains calculation for Mom:

    Nallasopara(E): Property purchased by Dad in April 1992 for 1,25,000/- and sold in March 2017 for 14,00,000/- ( Property Transfered to Mom’s name after Dads demise)

    Virar (W): Property purchased by Me and Mom was second Buyer on 30 March 2005 for Rs 6,63,780 and sold on Nov 2016 for 34,00,000/-

    Virar (W): The same property was purchased by my brother and Mom is shown as second Buyer in Nov 2016 for Rs 34,00,000/-.. For which brother took loan for 30,00,000/-.

    Reply

  117. October 31, 2017 @ 8:43 am SC KUTHIALA

    My father inherited property worth 20,000 in 1958. After his death in 1983, I inherited the same. I sold it in 2017 for 45,00,000/ . What is the long term capital gain.

    Reply

  118. November 9, 2017 @ 9:15 am Sachin Mulay

    Sir
    I recently sold my flat for Rs.20lacs. What is the indexation on this amount. Also what is the amount of investment in bonds that I need to do for this indexation amount and what is the time period

    Reply

  119. November 21, 2017 @ 2:19 pm S.NEPOLEAN

    I bought a flat in 1992 for 12 lakhs and sold it in 2017 for 90 lakhs. How should I calculate the cost inflation, whether according to the old index starting from the year 1981 OR according to the new index starting from 2001 OR according to both? Am I eligible for indexation for the years prior to 2001? Can I calculate the cost inflation from 1992 to 2001 as per the old index and from 2001-02 to 2017-18 as per the revised index?

    Reply

  120. November 25, 2017 @ 9:54 am s.k. soni

    sir,
    I sold a property in 50 lakhs but i was not purchase i receive from my parents so what is cost deemed for calculation of capital gain . above property purchase before 1981 cost did not know.

    Reply

  121. November 29, 2017 @ 2:53 am Manhoj jangglani

    Asstet purchased prior to 2001 but sold in fy 2017/18. New index to be followed. Assset is purchased in fy 1991/92. How to ascertain fair market value as on 2001/02 as new index to be applied from 2001. Its mentioned that assetes prior to 2001 fair market value to be applied. Is it justified using old index till 2001 from date of purchase to obtain fair market value as on 2001. Or recknor rate in 2001 is fair market value. Which method to obtain n justified

    Reply

  122. November 30, 2017 @ 1:30 pm Rakesh

    Does any one has the Cost Inflation Index – For Capital Gain of 1959

    Reply

  123. November 30, 2017 @ 1:40 pm Rakesh

    My grandfather bought a house at 9,500 in 1959 included registration charges. Now its around 2cr and i want to sell it, how will i calculate the long term Capital Gain

    Reply

  124. December 19, 2017 @ 8:34 am sreenivasan

    Sir/s,
    I recently sold my flat in Chennai which was in my wife’s name. , since she expired. Purchased the flat @ Rs. 7.00 Lacs in April 2000 and sold the flat for Rs. 18.50 lacs in Nov-2017. The Sale proceeds were shared between me and my son equally.
    Please inform me what is the calculation for Capital Gain Tax and how much we need to pay the Tax ( we both )

    Thanks

    Reply

  125. December 19, 2017 @ 8:44 am sreenivasan

    How to know the Cost Inflation Index value as on 01.04.2001 of Flat purchased in 20.04.2000 and as to calculate indexed capital gain for sale in 2017-18

    Reply

  126. December 19, 2017 @ 9:24 am sreenivasan

    How to know the Cost Inflation Index value as on 20.04.2000 of Flat purchased in 20.04.2000 and as to calculate indexed capital gain for sale in 2017-18

    Reply

  127. December 26, 2017 @ 4:33 pm A.V.NARASIMHA RAO

    Sir, I purchased a house by paying instalments from the year 2012 . The house registerred in my name in 2015,Now I am trying to sell it. But till now I have been paying housing loan instalments . still I need to pay some amount to clear the housing loan, The loan was taken in Jan 2012, (Rs. 6,40,000) The cost of he house is 10,80,000 Now the sale consideration is 18,00,000. Can I deduct the interest I paid while calculating the value of he house. Do I need to pay any tax.

    Reply

  128. January 11, 2018 @ 6:25 am ramakrishnan

    I built a house in coimbatore in the financial year 1991-92 for Rs.250000/- I again invested Rs.150000/- during 1998-99
    Rs.100000/- during 2001-02 and Rs. 200000/-during 2007-08 total cost of the house is Rs.700000/- I sold the house
    now last month for Rs.2200000 [Rupees twenty two lacs only] kindly advise me what would be my capital gain
    and also the mode of calculation. thank you

    Reply

  129. January 14, 2018 @ 1:59 pm Radhakrishnan

    I have sold my flat for 42l in 2017 that property I had brought in 2006 for 11l . Now I am going to construct flat for 35l with in 1 year. Now the question is, Is the diff. amount I want to invest in capital gain account.

    Reply

  130. January 21, 2018 @ 6:16 am K. K. CHOPRA

    I purchased a house from DLF. The first payment was Rs 30500.00 made on 27/08/1984 and the possession was taken in July 1990 with a total payment of Rs 4,05,437.00. This property was sold in August 2017 for 2,60,00,000.00. What is the indexed cost of the property? How much is the LTCG?

    Reply

  131. February 10, 2018 @ 5:52 am hariom gupta

    i have purchased & constructed the industrial property in the year 1971.now in the financial year 2016-17 i have sold the part of property. pl. guide how to calculate the capital gains tax.

    Reply

  132. February 14, 2018 @ 1:38 pm JAYANTA KUMAR DAS

    Sir , I have purchased a piece of land by Rs.40,000.00 and thereafter I completed construction of my ground floor on 31st.October,1993 and then first floor in the year 2007.I have sold my Ground- floor on 31.05 2017 by Rs.14,00,000.00 .The cost of construction of my ground floor was approximately Rs.6,00,000 at that time .
    Kindly help me by informing my Capital-Gain amount and TAX to be paid thereon. Any alternative way to save tax for the above mentioned Capital-Gain, inform me clearly to my given Email Address and oblige.

    Reply

  133. February 15, 2018 @ 8:30 am Navjot Singh

    sir,
    I purchased 3 plot @ Rs. 423000 in the year 2012-13, and I’m selling it in feb 2018 for Rs. 840000.
    now after indexation on including cost of improvement, LTCG is 250000 apprx. And I need to know How it be taxable on my hands ? Does I have to pay @ @20% on LTCG ? or Basic Exepmtion limit can be applied ?
    Please Reply with proper Section and Background.
    Waiting for Response.

    Reply

  134. February 24, 2018 @ 2:19 pm Om Sharma

    Sir,
    I have purchased a plot of size 32*75 square feet in 1990 -91 amounting Rs40000. Sold in 2017-18 forRs
    370000..What will be the long term. capital gain.
    I

    Reply

  135. March 16, 2018 @ 6:50 am kandalam srinath

    sir,
    iam selling a house for 9500000 as per govt rate and i purchased this property in 1972 . so what is is the long term gain on the above and what is the tax amount and calculation sir you can send t0 my mail ssvksns@gmail.com

    Reply

  136. March 16, 2018 @ 6:52 am kandalam srinath

    sir
    iam selling a house for Rs9500000 as per govt rate and i purchased this property in 1972 for Rs36000. so what is is the long term gain on the above and what is the tax amount and calculation sir you can send t0 my mail

    Reply

  137. March 17, 2018 @ 5:44 am K Vijayalaxmi

    Sir,
    I bought a Agriculture land @7,50,000 on march,2011 and looking for sell @36,00,000 now. My agricultural land is 13 Kms away from Municipal limits.I am willing to sell this at present, Should I need to pay any capital gain tax??? If yes, how much tax is payable?

    Reply

  138. March 18, 2018 @ 3:38 am R Venkittaraman

    sir my father in law bought Plot in Tiruvanmiyur for 10000, after his death in 1998 we have developed in to 3 aprtments at a value of 20 lacs shared by 3 persons in the year 2000.now if we sell we may get 3.5 crores what is the capital gain tax to be paid 3.5 croes will be shared by 3 persons @ 1.5 crores each

    Reply

  139. March 18, 2018 @ 9:22 am Ranbir Singh

    Sir, I purchased a plot in Aug 1995 of 11100, did expenditure on it of 20000 in Apr 2004. Sold it of 800000 in Nov 2017. How much tax I have to file., As now base year of CII changed to Apr 2001, how to arrive on purchase cost is it 272/100 …. Plz reply on email. Thanks

    Reply

  140. March 29, 2018 @ 10:09 am Sunil

    I purchased a shop in 2005 in RS 400000/- and now isold it in RS 480000/- please provide me the long term capital gain tax

    Reply

  141. March 30, 2018 @ 11:06 am ravi prakash gupta

    Registration of a flat in an Ideal Abasan scheme of Idel builder in Narainpur Kolkata in the FY 2010-11 and allotment letter is issued by the builder to the allot tee in FY 2010-11. I have transfer to our known persons on 05-12-2017 by executing the sale deed at Kolkata as per the circle rate. However, I have been paid less consideration. So far I have received Rs.26.00 lakh and may receive remaining Rs.4,00,000/- by the buyer as do not have funds with them.
    I have spent Rs. 2,30,000/- on stamp cost from the money received, hence, so far net amount is Rs. 23,70,000/- towards flat and likely to get Rs.4,00,000/- later. The amount to builder is Rs. 21,30,000/- and also incurred other expenses of Rs1750X12=Rs.21000/- month+ deposit with builder towards maintenance and further monthly maintenance of Rs.17500X28 months. Hence, Rs. 49000/- Index cost is 167 of year 2010-11 & 272 of 2017-18.
    Kindly works out capital gain if any and the flat is jointly owned by my wife & myself. Regards

    Reply

  142. April 24, 2018 @ 2:51 am Krishna Kumar

    2017-18 ka kaha hai

    Reply

  143. May 3, 2018 @ 11:45 am dheeraj

    I Purchase a land of rs. 7600000/- in 2001-02 and sell it in 2017-18 at rs.50000000/- what is capital gain

    Reply

  144. May 7, 2018 @ 9:10 am y chandran

    dear sir,
    msg from y chandran
    i purchased a house on 2/09/1991 for Rs 2.60lacs and i sold on 18/04/2018 Rs 34 lacs.what is the capital gain amount .how much amount i have to invest in bonds etc to avoid tax

    Reply

  145. May 9, 2018 @ 6:07 am y chandran

    sir
    i purchased a house from tamilnadu housing board on 02/09/1991 for Rs 2.60 lacs and sold for Rs 34 lakhs on 18/04/2018 .what is the capital gain amount revised to be calculated on the basis of revised CII.what are the tax exemptions available for save tax
    war regards.
    y chandran

    Reply

  146. May 19, 2018 @ 2:41 am S K Rochey

    I inheirited an apartment in Mumbai from my parents in 2016. The property was purchased in 1958 for Rupees 20,000. What would be the Value of the property if I applied the cost inflation index formula to this property ?

    Reply

  147. May 19, 2018 @ 2:44 am S K Rochey

    What would be the approximate current value of my property be, purchased in 1958 for Rupees 20,000 if I apply the Cost Inflation Index formula ?

    Reply

  148. May 23, 2018 @ 10:10 am Prabhakaran Rao

    Dear Sir,
    I purchased a residential NA Plot for Rs.40000 in Sept 1995. But the sale deed was not executed since then due to the previous owner’s refusal, as his intention was to take more value which I refused. In 2007 I have filed a regular civil suit against him. Now, a third party is interested in buying the plot from me for Rs.2500000- and settle with the previou owner. How to go about with this deal? In case I get Rs.25 lacs, how to calculate capital gains as I do not have title over the property since sale deed is yet to be done. Please help. Thanks.

    Reply

  149. May 28, 2018 @ 2:03 pm parmeet

    I am totally confused with this article which bring 2001 indexing base year.
    so pls help me understand
    case-1:
    Purchase year 1996
    selling year 2018
    what CII to apply

    Case:2
    same time Purchase year 2006
    selling year 2018
    what CII to apply

    Further how do you account for interest paid to bank for loan. does that add to the expense towards puchase

    Reply

  150. June 3, 2018 @ 10:40 am Jatin DHOLAKIA

    I had purchased house at 11.50 lacs in Oct 2007. Now I wish to sale my house at 30 lacs. I have loan outstanding as housing 10.50 and mortgage 19.50. which I will have to repay. I am purchasing another flat for 20 lacs. What will be my capital gain. What are the options to save tax.

    Reply

  151. June 6, 2018 @ 12:36 pm DIPAK K TRIVEDI

    I purchased TCS 7 shares at the rate of Rs.1076.30 on Aug 25th 2004. Got bonus 1;1 on on July 2006 another bonus 1:1 in June 2009. Now TCS shares are 28. All 26 shares were given to TCS co. in buyback at the rate of Rs.28500/-. I got Rs.79800/- buy back price. Kindly let me know capital gain accured for the A.Y. 2017-2018. Pl reply at the earliest on mail address also. Thanks.

    Reply

  152. June 6, 2018 @ 12:39 pm DIPAK K TRIVEDI

    second line pl read as All 28 shares instead of 26 shares. thanks

    Reply

  153. June 9, 2018 @ 1:29 am T RAGHAV RAO Rao

    I bought land in Hyderabad in 1975 and built a house which I now wish to sell. I have a Sale Deed which mentions the cost of the land but I do not have any audience of how much i spent to build the house so long ago. How to calculate the original cost of the house property for indexation purposes?

    Reply

  154. June 9, 2018 @ 2:48 am Naren Luhar

    Both my parents are deceased as of May 17, 2018. They bought their flat for INR 100000 in June 1978 spent INR100000 in capital improvements and lived in it until their death. We expect the flat will sell for 3Cr INR net of selling costs. How much capital gains tax will the heirs end up paying when the estate is settled after the Will is probated? I see that the newly revised inflation indexation from 1981 to 2017 is 1125 with a basis of 100 in 1981. Please clarify how the calculation is done based on the above provided info. Thanks.

    Reply

  155. June 15, 2018 @ 6:53 am JAI PRAKASH SHARMA

    I bought a flat for Rs. 745000 on july,2010 & sold it on May,2018 of Rs. 2200000/- than how to calculate the LTCG TAX & WHAT WILL BE THE CII FOR THAT SIR.

    Reply

  156. June 15, 2018 @ 7:18 am Madhu Krishna V

    “Accordingly, capital gains on assets acquired before 1 April 2001 will also be calculated using fair market value as on 2001.” For a property acquired before 2001, How to calculate Fair Market Value as at 1st Apr 2001? Can we use the previous CII?

    Reply

  157. June 17, 2018 @ 8:19 am Vinita

    I bought a plot in Jan 2007 rs.6.60 lakhs.In July 2012 I paid 1.50 lakh for lease &patta.l sold it rs.19.5 lakhs in Jun 2018.pl.calculate capital gain tax

    Reply

  158. June 20, 2018 @ 5:03 pm purushottam deorao paunikar

    i have purchased land in december 1995 for amount rs fifteen thousand and sale in june 2018 for the rs eighteen lac how much capital gain and tax will be apply

    Reply

  159. June 21, 2018 @ 1:36 pm MUKESH MATHUR

    I purchased a flat 1n 1988-89
    for 2 lacs. Since cost inflation index has been changed.I want to know the indexed cost of my flat in 2018-19?.

    Reply

  160. June 22, 2018 @ 6:55 am Suryanarayana

    Dear Sir,

    When the property is acquired before 2001, can we use the old indexation chart to obtain the value of property as on 1st April 2001 and then use the new chart for the later years. Or we have to get a valuation done for value in 2001.

    Reply

  161. July 4, 2018 @ 3:18 am V Renganathan

    I have inherited a property from my father on his death in 1991. Area of the property is 8370 sq.ft The guideline value of the property in 2002 is Rs12/sq.ft. The .property was sold on 2013 for 2700000/ What will be the capital gain?

    Reply

  162. July 5, 2018 @ 8:06 am Anir ban

    I have sold one flat on June 2018, now there is capital gain. Now Cost inflation index for 2018-19 will be available in next year. What is the last date of deposit of TDS on Capital gain for the transaction made on May 2018

    Reply

  163. July 6, 2018 @ 7:25 am Ravi

    While computing LTCG, how is the value of land added?, particularly when the plot of land was allotted through membership of Co-operative House Building Society at a very nominal cost in 1970s.
    For calculating LTCG from Yr. 1985-86 to 2017-18, the calculation shall be computed from Index rate of Yr 1985-86 to Yr. 2001-02 and further to 2017-18. Pl. confirm if right.

    Reply

  164. July 7, 2018 @ 10:16 am Vikram Dua

    I bought a flat in 1989-90 for rs 1250000 & sold it in 30/11/2017 for Rs 12000000 . Bought a flat for Rs 11000000 in 23/03/2018 . what will be my Capital Gain

    Reply

  165. July 8, 2018 @ 9:52 am Ramachandran Povara

    I have constructed a house 4 years ago by taking loan. I have to pay EMI for another 15 years. Now if I get my share of the proceeds of selling my parental property, will I get Capital Gain Tax relief, by repaying the housing loan in one go.

    Reply

  166. July 12, 2018 @ 2:54 pm Sarad beria

    I had purchased property before 1981 and cost of same was 24600. Sold on f.y 2017-28 for rs 310000. What will be capital gain

    Reply

  167. July 22, 2018 @ 5:30 pm prak

    Dear Sir

    I sold my flat purchased in 2004 in 2017 and became eligible for LTCG. As per rules, after indexation i am left with 25 lakhs taxable amount. I have invested this amount in a new property. However the new property is still under construction and is likely to be handed over in 2020 ie after three years from my sale date. My query is , Is possession certificate mandatory for tax exemption or current payment receipt to builder will meet the requirement for tax exemption.

    Reply

  168. July 24, 2018 @ 12:13 pm Rajendra singhvi

    I purchased agriculture plot in 19883,00,000,then developed like boundary & leveling in1999 rs.60,000.then converted in residential by UIT in 2010.conversion &developing charges & lease charges paid to UIT rs.2,56,000.how indexing will done &How much tax will rise.

    Reply

  169. July 26, 2018 @ 10:28 am Ganesh

    Hi ,
    Required your help, my father purchase 10*20 area in Mumbai at Cost of rs 100000/-, now we sold the property at 2385000/- ( 15 Lakh Chq * balance are cash ) , as per new owner he mention cash amount in agreement ( we do the notary agreement not register ). Can I have any issue for taking balance amt cash , pls suggest

    Reply

  170. July 26, 2018 @ 4:12 pm Ramakrishna

    i bought a house in 1997-98 for 3,50,000/. i sold it in 2017-18 for 27,50,000.
    what are the capital gains?

    Reply

  171. July 29, 2018 @ 2:33 pm Malati

    Sir,
    What will be the capital gain for a residential property purchased in May, 1995 for Rs. 210000 and disposed of in
    June 2018 for Rs 17 lacs. How do I calculate the value with 2001 index.

    Reply

  172. August 17, 2018 @ 12:56 pm Manjit Singh

    I purchased a plot in 2011 costs me 5 lakh. Current value in index

    Reply


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