Longterm land short term building
This query is : Resolved
02 May 2015
if land is long term and building is short term how to calculate capital gain
can we consider both together as long term capital gain
02 May 2015
you will have to apportion costs and sales price between the land and building on the basis of information available and offer consequent gains on long term and short term capital gains respectively.
Message likes :
1 times
03 May 2015
Cannot consider both as LTCG. Inference is from the Kerala High Court decision in the case of
CIT v Smt. Lakshmi B. Menon & Anr. (2003) 264 ITR 76.
CIT v Smt. Lakshmi B. Menon & Anr. (2003) 264 ITR 76.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Errors in lTDS FORM 26 QB FILING FOR Last instalment payment FOR HOUSE PROPERTY PURCHASE
- Reg Correction Form 15CB & 15CA
- Address Proof Required Gst Registration in UP
- Regarding Capital gain of NRI
- TDS deposited by party after the filing of income tax returns
- Gstr9 fy23-24
- Appeals pending - time limit
- REGARDING GST LIABILITY AND ITR TYPE
- GST Input disallowed on account of e invoice not issued by supplier
- Regarding TDS refund u/s 194B & 194G of AY 2024-25
- ITC RECREDIT NOT SHOWN IN GSTR 9
- Regarding Tata Motors Stock
- GSTR9 ITC AVAILED CLARIFICATION
- Gstr9 2023-24
- Wrong itc ingstr-3b coloum4-b-1
- Reclaim input disclose in annual return 23-24
- How to determine Holding period of shares in the case of ( Listed shares)
- How to capital Gain in the case sale of shares after after right issue (STCG and LTCG)
- Capital in the case of sale of shares after Merger or Demerger
- Adjusted from Capital account
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
