sir.
I am going to sell land and building in current year 2014-15 for ₹ 25,00000/- which i am holding for more than three years...The Indexed cost of acquisition is ₹ 1750000/-(approx). My question is
1) Can i take Indexed cost of improvement as deduction from sale consideration ₹ 55000 /- expensed in 2011-2012 and ₹ 85000/- in 2012-13 as i do not have any documents regarding such expenditures .
2)what is the rate of tax of LTCG for F/Y 2014-15.
3) how can i get relief or exemption from long term capital gain as per above point(2) . Please give me detail process.
Selling Land & Building: LTCG Tax Rate 20% Plus Cess; Exemptions via Sections 54 & 54EC for FY 2014-15. An individual plans to sell land and a building for 25,00,000, held for over three years, with an indexed acquisition cost of 17,50,000. They inquire about deducting improvement costs of 55,000 and 85,000, despite lacking documentation, and seek the long-term capital gains (LTCG) tax rate and exemption methods for the fiscal year 2014-15. A Chartered Accountant advises that improvement costs can be claimed if documented, the LTCG tax rate is 20% plus education cess, and exemptions are available under sections 54 and 54EC by purchasing a new house or investing in capital gain bonds. (AI Summary)
TaxTMI 
TaxTMI 
