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CAPITAL GAIN ON WIP

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(Querist)
19 March 2009 HOW TO VALUE LAND CONSTRUCTION COST AND WIP
OF LAND AND TO WHOM CAPITAL GAIN WILL BE APPLICABLE TO THE OWNER OR DEVELOPER?
PLZ REPLY AS EARLY AS POSSIBLE
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
19 March 2009 land is a seprate part and consrtuction is seprate.

In owners hand capital gain will be taxable as per section 45 i.e assessee must be owner of the asset.

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