Capital gains
This query is : Resolved
CAyashoda somani
(Querist)
28 July 2011
LAND PURCHASED DATE 01.01.1991 Rs. 100000.00
BUILDING CONSTRUCTED ON THAT LAND IN MONTH APR.2011 Rs. 500000.00. LAND AND BUILDING SOLD FOR Rs. 1500000.00 IN OCT 2011. WHAT IS THE NATURE OF CAPITAL GAIN ON LAND AND BUILDING WHEN CONSIDERATION IS NOT SEPARATELY DECIDED ???????
BUILDING CONSTRUCTED ON THAT LAND IN MONTH APR.2011 Rs. 500000.00. LAND AND BUILDING SOLD FOR Rs. 1500000.00 IN OCT 2011. WHAT IS THE NATURE OF CAPITAL GAIN ON LAND AND BUILDING WHEN CONSIDERATION IS NOT SEPARATELY DECIDED ???????
CA Aditya Goel
(Expert)
28 July 2011
as per me it will be Long Term Capital Gain/Loss
COA will be the value of Land which will be indexed
Cost of building will be taken ans Cost Of Improvement (COI). after indexation
sum of both will be the total indexed cost.
COA will be the value of Land which will be indexed
Cost of building will be taken ans Cost Of Improvement (COI). after indexation
sum of both will be the total indexed cost.
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2 times
29 July 2011
For Land it is long term capital gains and for building it is short term capital gains
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CAyashoda somani
(Querist)
19 August 2011
sir,sale price of land and building ko distribute kaise karege?.
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