Capital gain tax computation

II'd compute but  I charge Rs.700 fo r Income tax  computation. ?Recently two persons one from Bomvbsy annd another from /gujrat got their capital gain tax  calculated by me and did prudent investments out of saved capitl gains. I charged  Rs. 700 from eaxh of the,m. I'm an income tax Expert.

You take th eoriginal c cost of purchase o fland and building nd multiply itby indexed cost ofsale price in  th eparticualr yuear  in which you sols/indexed cost of purchase price in 22001. This indexed cost is based on cost inflation index of the of th eparticualt year. c9ost of cquisition  you  will gewt out o fthi  formula.  indexed cost can be got by seeing cost inflation index of th eparticular yuear. Now  you got an offer of sale for  Rs.55,80,000. so as per ou r calculation cost is  3100000Xindexed cost in slae pricefor the year 2016/indexed cost of purchase price fo rth eyear 2001 Please refer indexd cost based on cosrt of infatrion index in th eyear 2016 and also indexed cost of purchase price for th eyear 2001 seeing th etables. From cost price of th ehouse you deduct all expensessuch as  Registration charges, brolkerage, painting water tank repair etc and arrive at correct cost of acquisition and  then multiply by indexedcost of slae price for th e year 2016/indeed cost o fpurchase price  in 2001. Long /term Capital Gain=Total Sale consideration  in the year  2016=55,80000-cost of acquisition as above.Th e capital gain so arrived you can invest in section 54, 54 EC, 34 /F etc fo rbuying another house fo rself occupation or investing in National  Higfhway Authorities bonds o rRural electicity Bonds  or invest in  capital gain account schme of any Public sector Bank. If th ecapital gain is more thn the purchase price of th ehouse , th ebalance capitla gain will be charged to  long termcapital gain tax at  20%.

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OK! I don't want your fee. I've given you hints at computation of long term  capital gains tax and how to save it. At least courtesy sake  you click the thank you button on this forum.

Dear Mr.Vinu,

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Usha Kapoor