I had purchased a Plot of Land in the year 1983. In the F.Y. 2017-18, I constructed a commercial building on the said land and Sold all the Shops in the building to different parties in the same year.
I want to inquire whether I am eligible for the indexation benefit on the land as I am not a Promoter.
Yes
(otherwise also it gets converted to stock, in the year of construction at FMV)
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
