Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 September 2013
I purchased agricultural land for Rs 300000/- then after it was converted into Vastu land (residential),and after 5 years it was sale with Rs 800000/- what is the tax treatment for the same.
CA Pallav Singhania
(Expert)
11 September 2013
I think indexation would be taken from the date of conversion to the date of sold..
Howver, then cost would the FMV on the date on such conversion...
Howver, then cost would the FMV on the date on such conversion...
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