Capital Gain on sale of house

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Monika (Querist)
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03 June 2016 If a individual sale a house in which plot is hold for more than 3years and building part for 1 year only . Then capital gain is to be calculated on plot and building separately or the whole house sale will be treated as short term.

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ABHIMANYU JHAMBA

ABHIMANYU JHAMBA (Expert)
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06 June 2016 It has to be computed separately for land and building.

Abhimanyu Jhamba
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Monika

Monika (Querist)
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08 June 2016 thank u sir but the registry is made for house.It does not contain sale consideration for plot and land separately

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ABHIMANYU JHAMBA

ABHIMANYU JHAMBA (Expert)
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09 June 2016 Does not make a difference. I understand that the land has been held by you for more than three years. For the land, the purchase price would be cost of acquisition (indexed to the year of purchase). and construction cost would be the cost of the house. It does not make a difference if the registry is of the house only.

Regards,
Abhimanyu

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