my father purched a commercial plot in ricco jhalawar in july 2011.
1st amount paid on 04/07/2011 as deposit is 25000
2nd amount paid on 13/07/2011 is 81000
than he paid 2 instalment in 2011 nd 4 instalment in 2012 nd 2013
in march 2015 he sold this plot in that time he paid all intalment nd before selling he made boundary to the plot costing rs60000 nd fill compound with sand nd level it costing rs 40000.
now i wanted to know how can i calculate tax on it whether it is short term or long term.
nd can he deduct commission paid for sale .
sale price 1154000
total instalment + deposit = 609500
plz help m new here
CAclubindia
