....Here is my tax concern: My HUF purchased a land in delhi for Rs 1,40,000 in the P.Y. 2002-03. …
....Here is my tax concern:
My HUF purchased a land in delhi for Rs 1,40,000 in the P.Y. 2002-03. In the P.Y. 2006-07, a partition takes place when my son is allotted this plot valued at Rs 1,50,000. In P.Y. 2007-08, he had incurred expenses of Rs 2,45,000 towards fencing of the plot. My son sold this plot for Rs 17,00,000 on 22.12.2017 after incurring expenses to the extent of Rs 40,000. You are required to compute the capital gain.
CII is as follows:
2002-03 105
2006-07 122
2007-08 129
2017-18 272
