banner_ad

Capital gain

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
22 February 2012 Land Purchased on 1/5/2000 Rs 100000
Construction in 2004-05 Rs 50000
Construction in 2005-06 Rs 1500000
Construction in 2008-09 Rs 500000

The above building is constructed in pieces and the whole Structure Sold on 31/12/2009 for Rs 90 lacs
What will be the Capital Gain,its nature.Kindly explain the way to treat Improvement done in 2008-09(i.e whether it will be indexed if our answer is LTCG.
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
23 February 2012 For calculation of capital gain, you first need 2 dates.

1. Date of acquisition, which in this case shall be the date on which the construction is completed.

2. Date of transfer.

If the difference between the two dates is more than 36 months, then the asset is said to be a long term capital asset and the gain arising on transfer of such asset shall be long term capital gain.

Accordingly, you will get the benefit of indexation.

I can answer your query in a better way if you provide me the dates.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details