Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2014
I HAVE RECEIVED A PLOT OF LAND ( 10 KATHAS) AS A GIFT FROM FATHER ON 22/04/1990. THE COST OF LAND ON 13.12.1969 RS.2500/-. I HAVE GIVEN THIS ENTIRE PLOT OF LAND (10 KATHAS) TO A PROMOTER BY AN AGREEMENT DATED 20/12/2009. PROMOTER DEVELOP 30 FLATS. OUT OF WHICH AS PER AGREEMENT I HAVE RECEIVED 10 FLATS ON 10/04/2014. NOW I WOULD LIKE TO SELL 10 FLATS.
HOW I CALCULATE MY CAPITAL GAINS.
HOW I CALCULATE MY CAPITAL GAINS.
15 April 2014
the cost of construct of the 10 flats shall account for the cost of acquisition. If you sell these flats now, you would suffer from short term capital gains.
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