Capital gain on construction of own house by builder

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Salman (Querist)
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31 July 2019 sir,
I have a land whose stamp duty value is worth Rs. 50,00,000 and i have documents which agrees with builder to construct 6 house on that land and to hand me over 4 house and 2 will be sold by the constructor. Now should i account for capital gains or other sources? Since no cash payment is involved in this transaction i cannot opt under 54F nor there is amount to transfer to Capital Gain Savings Account Scheme.
What is the treatment for this transaction?

CA. Brijesh Baranwal

CA. Brijesh Baranwal (Expert)
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05 August 2019 Income in this case should be calculated under provisions of capital gains. However much depends on the actual facts of the case. You can send me details at; cabrijesh@yahoo.co.in

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