Question

jojo purchased a house property on 1st September , 1999 for rs 4,10,000 . fair market value of the property on 1 st april , 2001 was rs 3, 70,000. he incurred the following expenses : (1) construction of a room on the ground floor during 2000-01 rs 10000 (2) renewals / reconstruction in 2013-14 rs 4,40,000 the property was transferred on 31st march , 2019 for rs 45,00,000 . compute the capital gain. cost inflation index for the years are as follows : financial yrs 2013-14= 220 and 2019-20 =301

Answer 1

Explanation:

jojo purchased a house property on 1st September , 1999 for rs 4,10,000 . fair market value of the property on 1 st april , 2001 was rs 3, 70,000. he incurred the following expenses : (1) construction of a room on the ground floor during 2000-01 rs 10000 (2) renewals / reconstruction in 2013-14 rs 4,40,000 the property was transferred on 31st march , 2019 for rs 45,00,000 . compute the capital gain. cost inflation index for the years are as follows : financial yrs 2013-14= 220 and 2019-20 =301