Greetings. Devarajan [61 yrs] a private service retired person. Have 2 questions on Long Term Capital Gains. Please help
(1) Bought a land in May 2005 , constructed [self - not thru any builder or contractor] a single storey residential property by June 2006, and the same got disposed on 4th March 2024
(2) While calculating the LTCG for FY 23-24,
(a) Am I supposed to take only the land value for arriving at the indexed value or to include the construction cost also with land value ?
(b) If land value to be alone taken for arriving at the indexed one, then how to treat the cost of construction ? A depreciated value ?
CAclubindia
