Menu
Urgent -
My quarry is regarding the Capital Gain. Facts of the case -
1. Received the inherited property in 2009-10 by “will”. Original property acquire in 1960
2. Demolishes the property and construct the Building during 2010-11 ( construction cost – 50 Lakhs)
3. Sale the 2 flat in 2011-12 – at 3 Cr.
Whether it is treated as Short term or long term capital gain ? How the capital gain is calculated? How the cost of land is consider while calculating the CG.?
Replies (2)
Yes !!! sir short term CG is levied as there is no 3 yrs i.e. w/o giving effect of index and consider the building value alongwith land.
bt land where building is situated is inherited property. cost of building is 50 L. hw to cal land vlue and whether it is LTGC, STCG
Recent Topics :
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
Related Topics :
CAclubindia
