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Capital gain on sale of land and building
If we have sold out a home after demolishing the building that is only land, then, while computing the capital gain, purchase cost of land and building together we have to consider or purchase cost of land only have to be taken in calculation and what about cost of improvement that have been incurred during the life of the building?
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Only cost of land is to be considered. Building got demolished, where is the question of its COA/COI?
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