22 February 2010
A land purchased in year 2003-04. The construction on the land had been started in 2005-06 and completed in 2007-08. The same has been sold in year 2009-10. The sale consideration includes value for land and building. No bifurcation is available. How to calculate Capital gain/loss. How to find whether the gain/loss will be short term or long term. How indexation can be done.
22 February 2010
if no bifurcation possible then date of completion of building is date of purchase then short term capital gain arise because of below 3 year no indexation allowed. so as per your details try to bifurcate your sale proceed.
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