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How to calculate index cost of the flat?- Property Hotline
Posted
July 7, 2016
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313
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July 7, 2016
313
2
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1:12Now PlayingBe Un Confused
Expert: Samir Kanabar, Partner- Tax and Regulatory Services at EY.
Question: I purchased an under-construction flat in August 2012. I made payments via a construction linked plan. The agreement was executed on August 2012. I recently received possession. If I sell the flat now, will I have to pay short-term or long-term capital gains tax? Also, how can I calculate the index cost of the flat?
Answer: Date of the agreement is the date of purchase. So from the day you signed the agreement will be the day to calculate the Capital Gains. And also the cost of indexation should be considered from the August 2012 when the agreement was signed and you will get you the cost of indexation.
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