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Capital gain tax

(Querist) 18 August 2017 This query is : Open 
Few years back, i sold a land and bought an apartment using the capital gain amount to save tax under sec 54F. Now, after 3 years, i want to sell the apartment. For capital gain calculation, what is the base amount considered ?

land was bought for Rs 78000/- in 2003
land sold for 25 lakhs in 2012
Apartment bought for 25 lakhs in 2013
Apartment being sold for 32 lakhs now

Is the capital gain calculated as 7 lakhs (32 - 25) ? or
is it ~31 lakhs (32 lakhs - 78000) ?
Report Abuse
Rajendra K Goyal (Expert) 18 August 2017
Please discuss with local tax consultant.

Or post the query in CA club India.
ABHIMANYU JHAMBA (Expert) 18 August 2017
Pls call me on 9218999999

Abhimanyu Jhamba
Advocate/CA

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