Capital Gains - Construction case
This query is : Resolved
20 June 2011
Mr X has bought a plot of land in May 1990 for Rs 10 lacs. He subsequently spent Rs 50 lacs each in 1991, 1992, 1993 and finaly the house was completed in May 1993. total cost Rs 1.60 lacs inclusive of plot cost of Rs 10 lacs.
In 2010 he intends to sell the same. For the purpose of indexation, will it commence from 1990 or 1993 when the house is fully constructed.
In 2010 he intends to sell the same. For the purpose of indexation, will it commence from 1990 or 1993 when the house is fully constructed.
20 June 2011
INDEAXATION WILL BE DONE PHASEWISE
MAY 1990 AS PER THAT INDEX
1991 AS PER INDEX OF THAT YEAR AND SO ON
CA MANOJ GUPTA
JODHPUR
09828510543
MAY 1990 AS PER THAT INDEX
1991 AS PER INDEX OF THAT YEAR AND SO ON
CA MANOJ GUPTA
JODHPUR
09828510543
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