Question

Jojo purchased a house property on 1st September, 1999 for Rs 4,10,000. Fair market value of
the property on 1st April, 2001 was Rs 3,70,000. He incurred the following expenses :

(a) Construction of a room on the ground floor during 2000-01
Rs 10,000
(b) Renewals/reconstruction in 2013-14
Rs 4,40,000
The property was transferred on 31st March, 2020 for Rs 45,00,000.
Compute the capital gain. Cost inflation index for the years are as follows :
Financial Year Cost Inflation Index
2013-14. 220

2019-20. 289
Ans. Rs 27,37,100.
​

Answer 1

Answer:

a) Construction of a room on the ground floor during 2000-01

Rs 10,000

(b) Renewals/