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5pp.:1
An assessee purchased an old house for f 3,60,000 on Jan
2020 and registration charges were paid f 60,000. Besides, he i;
f 80,000 for its Improvement. On August 1, 2021 the house was sc
•f 7,50,000. Brokerage paid f 30,000 and other expenses were f 2 1

Compute capital gains.

Solution:
In above situation profit earned by him will be treated as short term capit
because the Immovable property was held by the assessee not more than 24 me

Sales consideration 7,,

Less -Aggregate amount of the foil owing items
(a) Sales and transfer expenses
(i) Brokerage 30,000
(ii) Other expenses 20,000 50,000
(b) Cost of acquisition and improvement
(i) Purchase price 3 ,60.000
(ii) Regisbation expenses 60,000
(iii) Improvement expenses 80,000 5,00,000 (-) 5,E
----+-----+---
Short term capital gain 2,01
•
 Formula:
Original cost or fair Index .for the year in
Market Value on 1.4.2001 X which the asset is
Indexed Cost (generally whichever is more) transferred, i.e. 2021-2'2 (317)
of Acquisition =----------------------
Cost Inflation Index for 2001-02, i.e.100
SPP-2
An assessee 'purchased a house on 1st January, 1995 for f 1,40,000
and sold it on ls_t January, 2022 for f 5,80,000. On 1st April, 2001 fair market
value of the property was~ 1,50,000. Cost Inflation Index for the year 2021-22; 317.
Determine the cost of acquisition and compute Long Term Capital Gains .

Q
l
. i1tioll : property is head by assessee before 1 4
u;
J If folloW'S - . .2001 then cost of acquisition will
¥ ;

,::i-~~ginalCOSt (1995) ~ 1.40.000

~~···
_ ....,
3
;t.
value {1.4.2001) ~ 1 SO OO
. . 0
~ 1,50,000
wnichever IS more
t 1.S0.000 will be taken as cost of a . . .
So- <;alculation of Long t cqCu1s1bon for indexation.
erm apital Gain
rransfer consic!eration of the asset
5,80.000
i,ess- Index cost of a cquisitio n
Cost of acquistion (1.4.2001) x Index of th tra
- e nsfer year
::: Index for 2001 - 02
1, 50, 000 x 317 (year 2021 - 22)
::: 100 (2001 - 02)
(-)4,75,500
long term capital gain 1,04,500
~R ASSETS ACQ UIR ED BY THE ASSESSEE ON
OR AFTER 1.4. 2,001
Cl F If the transferred asse t is acq uire d by lhe assessee after 31.3
.200 1, then actu al
f acquisition will be take n for finding the index cos t of
O acquisition. It will be
c05t d in the following man ner -
1,utate
,a Co st of Acq uisi tion x Ind ex for the yea r
~ed Co st in whi ch the asse t is transferred (2021-22)
~d,\cquisltion =
Co st Infl atio n Ind ex for the bas e yea r
in whi ch the asse t is acquir~d by the asse ssee
sPP-3
. An ass ess ee purch:_ased a bui ldin g for t 1,8 0,0 00
on 1st April, 200 6
d sold it for f 5 lac on 1.8 .20 21. Cos t infl atio n Ind
exe s for 200 6:0 7 and
ro21-22 are 122 and 317 res pec tive ly. Com put e Lon
g term Cap ital gai n.
Solutlon:
C~m put atio n of Lon g term cap ital gai -i
Transfer con side rati on
5,00,000
Less- Ind exe d cos t
Indexed cos t of acu lsit ion -
Actual _Cost acquistion x Index for 2021- 22
- Index for 200 6 - 07 (year in which property acquired)
1, 80, 000 X 317
- 122 4,67,705
Lon g term cap ital gai n 32, 295