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?

Amol S Joglekar

Amol S Joglekar (Expert)
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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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