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Computation of capital gain (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
29 May 2012

Purchase of Land in the year Feb 2000 - Rs.1.00 Lakhs
Constrction of building at the land May 2011 for Rs.22 Lakhs
Sale of Land & Building together in May 2012 for 25 Lakhs

So Sale of Land attract - LTCG
and Sale of Building attract - STGC

but how can i split the sale consideration between land and building
ie) How to calculate sale consideration for land and sale condieration for building



Siddhartha Bhardwaj

( Expert )
29 May 2012

Use the market value of land as sale consideration in respect of land and the balance amount as sale consideration in respect of building.



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