banner_ad

Capital gain

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 February 2013 If a Land is purchased in 2007 then construction took place on land on 2011 & land is sold in 2012. Is Constructcion on Land is improvement or it becomes residential house.Will it attracts Long or short term capital gain in both cases i.e. residential house or improvement.
Profile Image

Dintakurthi Tirumala

Profile Image

Dintakurthi Tirumala (Expert)
21 February 2013 Construction of residential house doesn't consider as improvement it is also asset. For land portion consider Long-term capital gain and for construction portion consider short-term capital gain.

OM SAI SRI SAI JAI JAI SAI
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
21 February 2013 As per the decision of Rajasthan High court reported in (1993) 201 ITR 442 the gain arising on sale of plot shall be long term capital gain whereas the gain arising on sale of building shall be short term capital gain.
Profile Image

sahil mahajan

Profile Image

sahil mahajan (Querist)
22 February 2013 Construction of land is part of Land. How we can separate the sale price.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details