Looking for long term capital gain tax calculator in excel, you are at the right place. LTCG Tax is popularly known for the sale of the property, agriculture land or any Equity-linked shares, which was held for more than 24 months.
In easy terms, if the difference of purchase of any assets and sales for that asset is more then 24 months that would attract long term capital gain tax. If the same property is holding for less then 24 months that would be short term capital gain (STCG).
Tax Slab on Capital gains tax
| Type of Asset | Holding Period | Type of Tax | Tax Rate |
| Property | >24 months | Long Term | 20% after indexation |
| Property | <24 months | Short Term | At Tax Slabs |
| Agriculture Land | >24 months | Long Term | 20% after indexation |
| Agriculture Land | <24 months | Short Term | At Tax Slabs |
| Unlisted Shares | >24 months | Long Term | 20% after indexation |
| Unlisted Shares | <24 months | Short Term | At Tax Slabs |
| Other eligible assets | >36 months | Long Term | 20% after indexation |
| Other eligible assets | <36 months | Short Term | At Tax Slabs |
Indexation benefit only applies if your asset qualifies for long term capital gains tax post indexation.
How does CII calculation work
Gross Long Term Capital Gain = Fair Market Value or Sale Price (–) Expense on Transfer (–) Index Cost of Purchase (–) Index Cost of Improvement”
Index cost of Purchase = Actual cost * CII for Year of Sale/ CII for Year of Purchase
Index cost of Improvement = Cost of Improvement * CII for Year of Sale/CII for Year of Improvement
This formula is applicable to both property and agriculture land.
Let’s understand the whole scenario with an example:
- Long-term capital gain= Full value consideration.
- (-) Expenses incurred for transfer (Like Brokerage, Stamp Duty, Travelling expenses etc)
- (-) Indexed cost of acquisition
- (-) Indexed cost of improvement/Repairing/Maintenance
- Finally Long term capital gain Tax
All the value must be travel through CII (Cost Inflation Index) which was declared by the Government of India from time to time.
Cost Inflation Index Chart
Financial Year (FY) Assessment Year (AY) Cost Inflation Index 2001-02 2002-03 100 2002-03 2003-04 105 2003-04 2004-05 109 2004-05 2005-06 113 2005-06 2006-07 117 2006-07 2007-08 122 2007-08 2008-09 129 2008-09 2009-10 137 2009-10 2010-11 148 2010-11 2011-12 167 2011-12 2012-13 184 2012-13 2013-14 200 2013-14 2014-15 220 2014-15 2015-16 240 2015-16 2016-17 254 2016-17 2017-18 264 2016-17 2017-18 264 2017-18 2018-19 272 2018-19 2019-20 280 2019-20 2020-21 289
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Long Term Capital Gain Calculator
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Explained in a very superb,excellent & decent way.
I HAVE PURCHASE 2001 PROPERTY 2010000/- SHOP AT GHATKOPAR
SOLD AS 20/01/2021 RS.7100000/-
TAX
You can download excel based calculator and get the results..