CAPITAL GAIN SHORT TERM OR LONG TERM
This query is : Resolved
Quick Summary
09 July 2022
Assessee bought land on 09.05.2019 for 20 lacs. House constructed & completed on 01.06.2020 for 45 lacs
Sold for 72 lacs on 20.07.2021
How should we treat the capital gain. Land as long term gain & construction as short term or both as short term.
Sold for 72 lacs on 20.07.2021
How should we treat the capital gain. Land as long term gain & construction as short term or both as short term.
09 July 2022
Whether land value determined separately in the sale deed?
16 July 2022
yes sale value is calculated separately for land & construction in sale deed & thereafter sale deed executed on gross amount
16 July 2022
In that case you can calculate gains as said above.
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