1) the assese has purchase first 4 acer land and than in next year he purchase additional 1 acer land than in that case its additional land pur is count as cost of improvement ????
2) 4 acer land ( holding period more than 3 years )
1 acer land ( holding period less than 3 year )
so my question is that indextation benefit both can recd just becz the cost of acquisition is ( 4 acer) is more than 3 years ???
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cost of improvement
Replies (5)
1. Additional purchase of land is not any improvement. It is just additional purchase.
2. Indexation benefit is available over 4 acres of land, being more than 3 years. While that over 1 acre will be short term capital gain.
Note: Time period of holding for long term capital gain is reduced to two years for immovable properties. (Budget 2017)
thanks
next question if my cost of acquisition more than 3 years and my cost of improvement was less than 3 years than in which case cost of INDEXATION recd ???
both or only for cost of acqisition
For any amount invested before the specified period, whether it is aquisition or improvement.
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