Capital gain
This query is : Resolved
30 July 2013
Mr. A residing in his home since 1985, in 2010 he demolish his whole house and reconstruct the same...
now he sold his reconstructed house in 2012. please tell about the nature of gain (long term/ short term)?
now he sold his reconstructed house in 2012. please tell about the nature of gain (long term/ short term)?
CA PARAS BAFNA
(Expert)
30 July 2013
The house is a long term capital asset.
.
What ever is new done can be treated as cost of improvement and indexation benefit can be claimed.
.
.
What ever is new done can be treated as cost of improvement and indexation benefit can be claimed.
.
Message likes :
1 times
30 July 2013
sir, how to calculate cost of acquisition ?
what about cost of old constructed house?will it be included ?
what about cost of old constructed house?will it be included ?
CA PARAS BAFNA
(Expert)
30 July 2013
In my view, it will be included with all costs incurred for bringing the new house in present condition.
.
.
Message likes :
1 times
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
