9/9/2014 Capital Gains Calculator (Immovable Property)

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Calculator for Capital Gain from Immovable Property
Enter data in applicable bordered cells
A. Purchase
A1 Financial Year of Purchase / Acquisition of the Immovable Property
1989-90
A2 Cost Inflation Index for the Year of Acquisition 172
A3 Purchase Price of the Immovable Property 1000000
A4 Add: Expenses relating to acquisition (e.g. brokerage, registration charges,
legal expenses etc.)
50000
A5 Total Cost of Acquisition of the Immovable Property 1050000
A6 Indexed Cost of Acquisition of the Immovable Property [ A5 x C2 / A2 ] 6251163
B. Improvement
B1 Financial Year of carrying out improvement(s)
2000-01
B2 Cost Inflation Index for the Year of Improvement 406
B3 Cost of improvements carried out in the property 200000
B4 Indexed Cost of Improvement [ B3 x C2 / B2 ] 504433
C. Sale
C1 Financial Year of Sale / Transfer of Property
2014-15
C2 Cost Inflation Index for the Year of Sale / Transfer 1024
C3 Full value of consideration received for Sale / Transfer 3500000
C4 Less: Expenses incurred on transfer of the property (e.g. brokerage paid,
registration charges and legal expenses)
0
C5 Net Value of Consideration 3500000
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Long Term Capital Gain [ C5 - (A6 + B4) ] -3255596
Exemptions
Section 54:
In case the the immovable property sold / transferred is a residential house, and if out of the capital
gains, a new residential house is constructed within 3 years, or purchased 1 year before or 2 years
after the date of transfer, then exemption on Long Term Capital Gain is available on the amount of
investment in the new asset to the extent of the capital gains. It may be noted that the amount of capital
gains not appropriated towards purchase or construction of a new house within 3 years may be
deposited in the Capital Gains Account Scheme of a public sector bank before the due date of filing of
Income Tax Return. This amount should subsequently be used for purchase or construction of house.
Section 54F:
When the asset transferred is a long term capital asset other than a residential house, and if out of the
consideration, investment in purchase or construction of a residential house is made within the
specified time as in sec. 54, then exemption from the capital gains will be available as: