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short term capital gain
short term capital gain on plot
Replies (3)
What is your query about short term capital gain
assessee purchased plot for 20 lac and sold the same for 45 lac with in 2 yrs. during proceedings claimed he made constn on same and claimed expn of 23 lac and offered stcg of 2 lac. will the expn claimed by him is justified in stcg.
It can be justified.If he has mede construction of value Rs.23 lacs he can claim the same as cost of improvement .
Then STCG can be calculated as
Sale consideration 45 Lacs
Less:Cost of aquisition (20) Lacs
Less:Cost of improvement (23) Lacs
STCG 2 Lacs
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