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Capital gain tax on joint development for land owner

Tax queries 321 views 3 replies

For simplicity assuming cost of acquisition as zero for land.

Land area: 10000sft 
Govt rate of land: 2000/sft
Share agreement: 60% builder, 40% landowner

Built-up area received to land owner as per share 10000 sft

Govt rate of apt: 2500/sft
Cost of construction: 1500/sft

What is LTCG if nothing is sold?

What is LTCG and STCG if all of it, i.e 10000sft is sold at 4000/sft

Replies (3)

" What is LTCG if nothing is sold? What is LTCG and STCG if all of it,........."

Without cost of aquisition of land and its period of holding.......... LTCG cannot be estimated.....

Ok. Assume cost of acquisition is 100000 on 1jan2010

sell price......... Rs.1500/- * 10000 sq.ft.

Indexed Cost price : 272/148* 1L..........

Difference LTCG.............

STCG........ Rs. 1000/- * sqft of each flat sold.......


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