HI,
I met a case that the assessee purchased a land in 2012-13 financial year. He constructed two properties on the said land in financial year 2015 -16. He sell the both properties in financial year 2016 -17.what is the capital gains treatment.weather it attract LTCG or STCG. whether I can show the sale of land as LTCG AND sale of constructed properties as STCG.Please guide me the tax treatment.
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weather it attract LTCG or STCG
Replies (3)
sale of property will attract LTCG since you have held it for a period more than 24 months
yes you can show sale of Land as LTCG and sale of building as STCG.
provided if consideration is seperable.
Thank you for the information my dear friends
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