Capital gain on land and building

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 October 2013 how to break up the amount between land and building when the property is the independent unit.
in conveyance deed there is a lump sum payment for the purchasing of land and building?

how to find the capital gain?
is it in case break up possible? how to do?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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13 October 2013 You have following options:

1. Apportion the sale proceeds in the ratio of cost of acquisition.

2. Obtain fair market value of land & building separately and apportion in that ratio.

3. Obtain a valuation from a valuation officer.