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(Querist)
14 February 2009 Hi,

Land purchased on 1.5.1998 for Rs 500000
Cost of Improv. on 1.5.2007 Rs 300000
Sale Proceds on 1.5.2008 Rs.1250000

Index coa 784900

What will be the treatment of Cost of Improvment? It STCG or LTCG?
please suggest
thank
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
14 February 2009 Improvement can neither be short nor long term.
It is the capital asset which is short/long term.

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