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Capital gain

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Querist : Anonymous

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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.
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CA Pallav Singhania

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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...
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