Calculation of capital gain
This query is : Resolved
08 March 2014
dear experts.
if plot is purchased before 3 years ago n house is constructed in current financial year thereon.and want to sale out that house before 31 march. what are the tax liability?
if plot is purchased before 3 years ago n house is constructed in current financial year thereon.and want to sale out that house before 31 march. what are the tax liability?
08 March 2014
Gain on plot is 'long term capital gain' and that of building is 'short term capital gain'.
08 March 2014
thank you sir. again my question is can i calculate separate cost for both? bcz house is constructed on that plot.
08 March 2014
For details please refer the case law
CIT Vs. Dr. D.L. Ramachandra Rao [1999] 236 ITR 51 (Mad).
CIT Vs. Dr. D.L. Ramachandra Rao [1999] 236 ITR 51 (Mad).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 270A penalty
- GST Registration Application -Rejected
- GSTR 1- Amend Credit Note
- GSTR 9C- Table 9
- Tax liability on gift amount given to blood relation
- International transfer pricing- -> father entity vs son entity ->WHERE NO mutual say in management
- Acting as an Agent
- Reimbursement of expense- GST applicable or not
- When was the effective CA partnership deed? Can I use old FRN until new FRN alloted by ICAI?
- To Whom the Professional Invoice should be Raise
- E stamp paper purchase
- Problem in filing Returns for International workers in EPFO
- Clarification for reversal of IGST on transfer of duty-free imported goods from EOU to DTA unit
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
