Capital gain
This query is : Resolved
28 June 2013
Need an explanation-
I have a plot of land say 12000 sq ft value say Rs 1.50 Cr. I gave it to a developer for development. As a consideration i will get 5 shops of 1000 sq ft each of which construction cost to developer will be say Rs 92 lakhs for all shops & its market value will be say Rs 2 cr for all shops. I acquired a land for Rs 30 lakhs in the year 2005. Now please tell me how much capital gain I earned?
I have a plot of land say 12000 sq ft value say Rs 1.50 Cr. I gave it to a developer for development. As a consideration i will get 5 shops of 1000 sq ft each of which construction cost to developer will be say Rs 92 lakhs for all shops & its market value will be say Rs 2 cr for all shops. I acquired a land for Rs 30 lakhs in the year 2005. Now please tell me how much capital gain I earned?
28 June 2013
RS. 2 CRORE SALE PRICE LESS: INDEX VALUE OF LAND AND DEVELOPMENT OF BUIDLING COST= REMINING IS CAPITAL GAIN
28 June 2013
So Rs 2 cr - (indexed cost say Rs 50 lakhs + Rs 92 lakhs construction cost )= Rs 58 lakhs, is it?
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