Long term capital gain problem
This query is : Resolved
VANYA GARG
(Querist)
12 March 2012
sir,
Plz help me in the below mentioned situation-
An assessee had an house which was constucted as under-
plot purchased on dt-10.08.2004 150000
construction of I st Floor dt 20.12.2007 at Rs.125000
New construction II nd floor dt. 04.06.2009 at 200000
Complete above house sold for Rs. 1000000.00 on dt. 02.02.2011
New House Purchsed 01.03.2011 for Rs. 1200000.00
Please tell me whether the gain arising in such a situation is LTCG or STCG?
Plz help me in the below mentioned situation-
An assessee had an house which was constucted as under-
plot purchased on dt-10.08.2004 150000
construction of I st Floor dt 20.12.2007 at Rs.125000
New construction II nd floor dt. 04.06.2009 at 200000
Complete above house sold for Rs. 1000000.00 on dt. 02.02.2011
New House Purchsed 01.03.2011 for Rs. 1200000.00
Please tell me whether the gain arising in such a situation is LTCG or STCG?
12 March 2012
Long Term Capital Gain,
Do separate calculation for plot and Flat.
Consider II nd floor as cost of improvement for the house.
Do separate calculation for plot and Flat.
Consider II nd floor as cost of improvement for the house.
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