Question

Agricultural land situated in Agra purchased in 2004-05 Rs 113000,sold for Rs.800000 on 01.05.2018.The assessee purchased another piece of agricultural land on 01.08.2018 for Rs. 370000.Find out the capital gains chargeable to tax for the assessment year 2019-20.The cost inflation index in 2004-05 was 113 and in 2018-19 it was 280.

Answer 1

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