How CII is used for LTCG calculation
Using the formula described above, the indexed cost[(317/122)*20,00,000]comes out to be Rs 51,96,721. long term capital gain will be [Rs 85 lakh less of Rs 51,96,721] 33,03,279 Rs. These long term capital gains will be taxed at the rate of 20%. The amount of tax will be Rs 6,60,656.
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