Capital Gain

this treatment is according to accounts.

We were discussing according to income tax.

 TREATMENT WILL BE DONE IN THE  FOLLOWING WAYS

A)IF NO SOURCE OF BIFURCATION IS AVAILBLE, TREAT FULL VALUE AS SALE CONSIDERATION

LESS: WDV OF BULDING AT THE TIME OF SALE (WHICH IS NIL)

LESS: INDEXED COST OF LAND        

=LONG TERM CAPITAL GAIN   

B)WITH PROVISO TO SEC 50C STAMP DUTY VALUE OF LAND AND BUILDLING  WILL BE CONSIDERED AS SALE CONSIDERATION 

SALE CONSIDERATION (LAND)                       SALE CONSIDERATION (BLDG)

LESS:INDEXED COST OF LAND                     LESS: WDV OF BLDG (NIL)

= LONG TERM GAIN                                             = SHORT TERM GAIN