Easy Office

Capital gains on property

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
17 October 2018 How will be the capital gains taxed in the following case:
Mr. S has Purchased a House Plot in the year 2010 for Rs. 5,00,000/-
He Started Construction in the above plot in the year 2017 and Completed it in the same Year. Cost of Construction of the house is Rs. 1500000/-
In the Year 2018 (After April) he sold the above property for Rs. 35,00,000/-

How will the above asset taxed to captal gains. Is it Total Long Term Capital Gains or should we bifuricate the land value and construction value as LTCG and STCG. Plz Clarify.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
17 October 2018 Bifuricate the land value and construction value as LTCG and STCG.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
18 October 2018 To bifurcate. Inference - CIT Vs. Smt Lakshmi B Menon & Anr. (2003) 264 ITR
76 (Ker).




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


Easy Office

Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links