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Capital Gains Calculation Guidance

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This query is : Resolved

Neha (Querist)

05 January 2023 Respected Sir Madam
Please guide for Calculating Capital Gains
Land purchases 1986
Factory Building built 1992
Factory Building has been capitalized and depreciation charged WDV of 31.03.2022 is Rs. 10000
Sale consideration 30.12.2022 Rs. 50lakhs for Land and 4Lakhs for Factory
Will this entail
1. Long term Capital Gains on Land calculated with indexation based on FMV of Land on 01.04.2001 AND Short Term Capital Gains on Building
OR
2. Should Long Term Capital Gains be calculated on land and building together
Plz guide which method (out of 1or 2) should be adopted or suggest any alternate method of Capital Gains calculation.

Thanks

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

05 January 2023 Long term Capital Gains on Land calculated with indexation based on FMV of Land on 01.04.2001 AND Short Term Capital Gains on Building.

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