About capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 July 2012 One of client is Joint owner of a commercial cum residential plot. they are 3 joint owner of that property.
In last FY they do some construction activity there and sold three shops.The remaining four shops and a flat are still unsold.
I want to know that what is the tax treatment in each joint holder computation.
the details are as follows.
Cost of plot :40 Lacs
cost of construction:50 Lacs
three shops sold @ 20 Lacs each

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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10 July 2012 Total cost is Rs. 90 lakh
Apportion this cost among the shops & the flats in proportion to the covered area.

This apportioned cost shall be the cost of acquisition of each separate unit.

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