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Answer Posted / akash
Index for the year of sale/ Index in the year of
acquisition) x cost.
For example, if a property purchased in 1991-92 for Rs 20
lakh were to be sold in A.Y. 2009 -10 for Rs 80 lakh,
indexed cost = (582/199) x 20 = Rs 58.49 lakh. And the
long-term capital gains would be Rs 21.51, that is Rs 80
lakh minus Rs 58.49 lakh.
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