banner_ad

LTCG ON HOUSE PROPERTY

This query is : Resolved 
Profile Image

Profile Image

(Querist)
22 October 2019 We have purchased a plot worth Rs 800,000 on 25-08-2017, and constructed house on it. Cost of construction of house was 35,00,000 and now i want to sell it 50,00,000. Query (1) whether income will be considered as LTCG or STCG. (2) If we purchase new house property can we claim deduction u/s 54. Thanks in advance.
Profile Image

CA Dileep Surya Kumar

Profile Image

CA Dileep Surya Kumar (Expert)
23 October 2019 Land - Long term capital gain since the holding period more than 2 years
Building / structure - Short term term as holding period less than 2 years.

Sale consideration you have to bifurcate based on the valuer accordingly calculate the capital gain. For land you can apply indexation.

54 may not available as you are selling land, check 54F
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details