Accountancy, asked by johnya711, 1 year ago

Mr. Sudesh sold his house on 1st may 2010 for `12,00,000. This house was purchased by his father
in 1960 for `50,000. Mr. Sudesh got this house in inheritance on the death oh his father in 1977-78.
On 01.04.1981 fair market value of this house was `1,50,000. On 1st December 2010 he purchased
another house for `2,50,000. For his assessment year 2017-18 calculate his capital gain.


emilekka567: Anwer me the question

Answers

Answered by franktheruler
5

Answer:

       calculation of capital gain

Date   particulars                     amount  amount  amount

1/5/10 selling price of house   1200000  

          (less)Index cost of

          acquisition  

          [( 150000 / 100 ) x 711]   1066500

                                                                 133500

2017-18 index cost of new

             house  

             [( 25000 / 711 ) x 272 ]                95639

                 Total Capital Gain                                    143139

Explanation:

Index cost :-  

     1981 2010 2017-18

     100  711    272

Similar questions