Please calculate capital gain for the given land transaction
Land purchase details
1 Land purchased on 28/03/2017- 378000
2.Land purchased on 28/03/2017- 504000
Improvement cost - 400000
Total value of land= 904000
Land sold details
1 Land sold on 14/03/2019- 378000 (same value as purchase)
2 Land sold on 14/03/2019- 1677000
For first land no gain. For second land Short term capital gain of Rs. 6,73,000/-
773000 will be stcg
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CAclubindia
