Indexed Cost & LTCG Calculator

Page 1 of 2

Hide Menu

Top

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
Cost Inflation Index for the Year of Acquisition
Purchase Price of the Immovable Property
Add: Expenses relating to acquisition (e.g. brokerage, registration charges,
legal expenses etc.)
A5 Total Cost of Acquisition of the Immovable Property
A6 Indexed Cost of Acquisition of the Immovable Property [ A5 x C2 / A2 ]
B. Improvement
B1 Financial Year of carrying out improvement(s)

1997-98

A2
A3
A4

B2 Cost Inflation Index for the Year of Improvement

B3 Cost of improvements carried out in the property
B4 Indexed Cost of Improvement [ B3 x C2 / B2 ]
C. Sale
C1 Financial Year of Sale / Transfer of Property
C2 Cost Inflation Index for the Year of Sale / Transfer
C3 Full value of consideration received for Sale / Transfer
C4 Less: Expenses incurred on transfer of the property (e.g. brokerage paid,
registration charges and legal expenses)
C5 Net Value of Consideration
Reset

Long Term Capital Gain [ C5 - (A6 + B4) ]

331
1000000
100000
1100000
1831118
2000-01
406
1200000
1628571
2007-08
551
3500000
50000
3450000
Submit

-9689

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:
1. If cost of new asset is greater than the net consideration received, the entire capital gain is
exempt.

http://finotax.com/income-tax/cgcalc

3/22/2015

Indexed Cost & LTCG Calculator

Page 2 of 2

2. Otherwise, exemption=Capital Gains x Cost of new asset/ Net consideration. It may be noted
that this exemption is not available, if on the date of transfer, the assessee owns any house
other than the new asset.
It may be noted that the Finance Act 2000 has provided that with effect from assessment year
2001-2002, the above exemption shall not be available if assessee owns more than one
residential house, other than new asset, on the date of transfer. Investment in the Capital Gains
Account Scheme may be made as in Sec.54.
For more information on the subject, please visit Taxability of Capital Gains.

http://finotax.com/income-tax/cgcalc

3/22/2015