CapitalGain
This query is : Resolved
14 February 2009
Hi,
Land purchased on 1.5.1998 for Rs 500000
Cost of Improv. on 1.5.2007 Rs 300000
Sale Proceds on 1.5.2008 Rs.1250000
Index coa 784900
What will be the treatment of Cost of Improvment? It STCG or LTCG?
please suggest
thank
Land purchased on 1.5.1998 for Rs 500000
Cost of Improv. on 1.5.2007 Rs 300000
Sale Proceds on 1.5.2008 Rs.1250000
Index coa 784900
What will be the treatment of Cost of Improvment? It STCG or LTCG?
please suggest
thank
CA Nitin Wadhwani
(Expert)
14 February 2009
Improvement can neither be short nor long term.
It is the capital asset which is short/long term.
It is the capital asset which is short/long term.
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