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:
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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
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