Capital Gain on sale of house
This query is : Resolved
03 June 2016
If a individual sale a house in which plot is hold for more than 3years and building part for 1 year only . Then capital gain is to be calculated on plot and building separately or the whole house sale will be treated as short term.
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ABHIMANYU JHAMBA
(Expert)
06 June 2016
It has to be computed separately for land and building.
Abhimanyu Jhamba
9218999999
Abhimanyu Jhamba
9218999999
08 June 2016
thank u sir
but the registry is made for house.It does not contain sale consideration for plot and land separately
ABHIMANYU JHAMBA
(Expert)
09 June 2016
Does not make a difference. I understand that the land has been held by you for more than three years. For the land, the purchase price would be cost of acquisition (indexed to the year of purchase). and construction cost would be the cost of the house. It does not make a difference if the registry is of the house only.
Regards,
Abhimanyu
Regards,
Abhimanyu
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