Capital gains on property sell
This query is : Resolved
Garvit Dave
(Querist)
31 December 2012
I had purchased a plot of land in Yr 2002 and constructed independent house on that.Construction has been done in 2005.I am planning to sell this house and going to purchase a New flat.
Please advice me whether I have to consider land value and House construction value {buy and sell value}separately for capital gain tax purpose?
Thanks & Regards
Garvit Dave
Please advice me whether I have to consider land value and House construction value {buy and sell value}separately for capital gain tax purpose?
Thanks & Regards
Garvit Dave
31 December 2012
You have to consider the value from the day the construction is over. And there is no need to draw a line between the value of Land and buiding
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