Regarding calculation of tax during sale of plot

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ASSISTANT MANAGER
24 Points Posted on 30 June 2019

Sir,

I have one agriculture land bought 20 years ago. Now I have done plotting on it. Now please tell how indexation calculation will be done for sale on individual plots as earlier it was a whole land and now it is divided into plots of various sizes. 

Thank you

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On 30 June 2019 at 07:56 Report
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SEO Sai Gr. Hosp.
212572 Points Posted on 30 June 2019

Get valuation certificate from registered valuer as on 01.04.2001, for sq. mt. rate of the land in the area.

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On 30 June 2019 at 08:30
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ASSISTANT MANAGER
24 Points Posted on 30 June 2019

Sir

Please tell what is the whole procedure ?

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On 30 June 2019 at 14:03
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12244 Points Posted on 01 July 2019
in your case both long term capital gains(conversion of capital asset in to stock in trade as per section 45(2)) as well as business income (sale of plots) will be charged to tax
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On 01 July 2019 at 01:56

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