banner_ad

Capital gain treatment in case of sale of land

This query is : Resolved 
Profile Image

Profile Image

(Querist)
07 August 2012 PURCHASE:
LAND & BUILDING was purchased at Rs.20,00,000/-.
On the purchase date, the value of LAND (as per circle rate in that area) was Rs.15,00,000/-.

SALE:
The BUILDING was demolished by the owner and the scrap was sold for Rs.1,00,000/-.
Later on the LAND was sold for Rs.25,00,000/-.


Kindly let me have expert comments on treatment of this transaction under head capital gains.

Please provide the concerned law or case (if any).
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
07 August 2012 The definition also covers the cases of EXTINGUISHMENT. The building will attract capital LOSS. The working of land is easier with the help of circle value and indexation if any.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


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
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details