query on capital gain indexation

[Blearn]

i have brought a property in 2010 for 27.5L and sold it in 2024/April for 29.5L. Is it applicable for capital gain indexation? if so how is the indexation calculated for capital gain/loss?

AI Summary

How to compute long-term capital gain on immovable property using CII, indexation and tax under Section 112 and 48 If the property is an immovable and was held for more than two years, long-term capital gain rules with indexation apply. Compute indexed cost = purchase cost × (CII of year of sale / CII of year of purchase), where CII = Cost Inflation Index for the relevant financial years; capital gain = sale consideration - indexed cost - allowable transfer expenses. A negative result is a long-term capital loss. LTCG is taxed under the long-term provisions (generally a 20% rate after indexation) and exact tax owed depends on the precise CII figures, any exemptions claimed, and supporting expense documentation.