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Long Term Capital Gain (LTCG) Calculator for Land or Building or Both For Financial Year 2017-18- As per new indexation from 2001 – 02
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On a quick trial nun, evidently, the surrounding areas of controversy, though not all, in respect of any asset acquired in any FY preceding FY 2001-02, -to which the old Table of CII to apply – have been glossed over/bypassed!
OFFHAND
Any such ready-made ‘calculator’ may be expected to be useful and purposeful, provided any one interested , such as taxpayer or advising /consulting professional could cross verify and satisfy self about the methodology employed.
It is quickly observed, however, the way the subject calculator / the requisite Data has been structured, leaves much to be desired. For instance, one such important Data to be factored in, is the ‘CII’. In the calculator, no such Data is open to be filled in. Prima facie, as quickly viewed, one has no means to know or readily identify or verify whether that has been duly taken care of.
To make it explicit, for instance, as regards the ‘cost of improvement’ , same way as ‘cost of acquisition’, inflation index to apply will depend upon the FY or FYs in which any such improvement is effected, and on a year -to -year basis.
For some of the material points of controversy largely obtaining, but still left to be authoritatively clarified, anyone may look up the viewpoints as shared through public domain; in previous Posts herein itself.
Personally, open to be eminently enlightened by Experts , at large, on the above indicated or related others !