Self constructed house sold
This query is : Resolved
25 November 2015
Dear expERT,
In 2014 I have constructed a house on my own land later in 2015 I sold it for 30 laks .will it be taxable?
25 November 2015
yes taxable as per Income tax
25 November 2015
Yes it is a short term capital gain taxable. Cost of the house including the indexed cost of land has to be reduced from 30 lacs to work out the gain.
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