Income tax

Friends,

Any responses.

Regards,

Dear Dipjyoti

on the basis of judicial decision:

For Land: the sale consideration for land is taxable as LTCG an for

For Building: sale consideratin is taxable as STCG (if 36 month not passed after completion of construction) else  LTCG.

related case laws:

A.  CIT v Lakshmi B. Menon (2003) 264 ITR 7 (Ker.),  

NOTE: the onus is on assessee to prove value pertaining to land and building.