Please Help: capital gain on sale of land
Posted Date : 16-Apr-2014 , 12:27:20 pm | Posted By Ranjit Kumar
A company has 2pieces of land having wdv 14lakh out of this one land sold for Rs.7lakh having cost Rs 5Lakh.whether Rs 2 Lakh is capital gain or not ??
Category : Income Tax | Answers : 1 | Comments : 0 | Hits : 170
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Answer By: shankygarg
If Cost of Rs. 5 lakh is after indexation, then ,yes Rs.2 lakh is your capital gain. But, if ,it is not, Calculate Indexed cost firstly and then calculate capital gain.
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