Capitalgains on sale of house property
This query is : Resolved
Chandra Kala
(Querist)
15 June 2023
Assessee sold house proprty for year 2022-2023 for Rs.80,00,000/-. Land purchased on 2003 for Rs.4,00,000 and construciton made for Rs.40,00,000 duirng the year 2021-2022. Whether byfirgation should be made for lonterm capitalgains held on land cost and shorterm capital gains to be calculated on cost of construciton, which was held in 2021-2022. How to calculate
Dhirajlal Rambhia
(Expert)
15 June 2023
Yes, calculate LTCG on land part and STCG over construction part.
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