Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 November 2015 IF ASSESSE PURCHASED LAND IN 93-94 AND STARTS THE CONSTUTUION ON THIS BUT HOUSE COMPLETED AFTER 2 YEARS IN 96-97 SO,WE CALCULATE THE CAPITAL GAIN FOR LAND AND BULDING SEPRATLY AND WHICH PRVIOUS YEAR WILL TAKE FOR CALCULATION OF CAPITAL GAINS

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 November 2015 LTCG to be calculated separately. Year of acquisition for land is 1993-94 and for building is 1996-97.

Inference - CIT Vs. C.R.Subramanian [2000] 242 ITR 342 [Kar].