Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 May 2014
Plot was purchased 3 year old value Rs. 1,00,000/-
Construction of Bunglow on that plot Cost Rs. 4,00,000/-
Construction completed before 10 month
and now i am selling it at Rs. 10,00,000/-
How the capital Gain will be calculated and which provisions will be applicable to such transactions?
Construction of Bunglow on that plot Cost Rs. 4,00,000/-
Construction completed before 10 month
and now i am selling it at Rs. 10,00,000/-
How the capital Gain will be calculated and which provisions will be applicable to such transactions?
Amol S Joglekar
(Expert)
31 May 2014
what did you sell? land along with building or land and building separately? Land, if sold separately may be a long term capital gain and building short term... (You need to draft the agreement very carefully.....)
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