capital gain
This query is : Resolved
13 November 2009
The agricultural land converted into commercial land is sold-
a) For calculating indexed cost of acquisition, indexation to be considered from the year of conversion or acquisition?
b)can expenses incurred to convert agricultural land into commercial land be included in cost of acquisition?
a) For calculating indexed cost of acquisition, indexation to be considered from the year of conversion or acquisition?
b)can expenses incurred to convert agricultural land into commercial land be included in cost of acquisition?
CA.M Chowdary
(Expert)
13 November 2009
indexation shall be considered on acquision not the conversion
the conversion expenses can be treated as improvement not cost of acquision
the conversion expenses can be treated as improvement not cost of acquision
Rahul Vora
(Expert)
14 November 2009
In agreement with the expert
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