I have purchased land in the year of 1997 and construct the building on the same in the year of 2006 and i sale the building in year 2019. whether capital gain is calculated individually on the land and building or shall I consider one of same and calculate capital gain only on building.
For cost of acquisition of land take FMV as on 01/04/2001 and apply INDEXATION. for construction of building take it as cost of improvement and apply INDEXATION
CAclubindia
