Short term capital gains

samrat (business) (159 Points)

20 October 2016  

Sir, I am a developer. I am recently into this business. I construct bunglow and sell . I have a question . I am the owner of the plot and suppose if i sell bunglow for around 60lac , do i liable to pay short term capital gains, as it is completed within one year. Land cost is around 4 lac. What will be the short term capital gain i req to pay? Did i req to pay separately on land and bunglow? Land was purchased 10 years back.