05 January 2023
Respected Sir Madam Please guide for Calculating Capital Gains Land purchases 1986 Factory Building built 1992 Factory Building has been capitalized and depreciation charged WDV of 31.03.2022 is Rs. 10000 Sale consideration 30.12.2022 Rs. 50lakhs for Land and 4Lakhs for Factory Will this entail 1. Long term Capital Gains on Land calculated with indexation based on FMV of Land on 01.04.2001 AND Short Term Capital Gains on Building OR 2. Should Long Term Capital Gains be calculated on land and building together Plz guide which method (out of 1or 2) should be adopted or suggest any alternate method of Capital Gains calculation.
05 January 2023
Long term Capital Gains on Land calculated with indexation based on FMV of Land on 01.04.2001 AND Short Term Capital Gains on Building.
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