Longterm land short term building

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Gnanashekar.R (Querist)
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02 May 2015 if land is long term and building is short term how to calculate capital gain can we consider both together as long term capital gain

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 May 2015 you will have to apportion costs and sales price between the land and building on the basis of information available and offer consequent gains on long term and short term capital gains respectively.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 May 2015 Cannot consider both as LTCG. Inference is from the Kerala High Court decision in the case of
CIT v Smt. Lakshmi B. Menon & Anr. (2003) 264 ITR 76.

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