Long term capital gain problem
This query is : Resolved
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
