Capital gain tax on joint development for land owner

Sunil (manager) (149 Points)

27 October 2017  

For simplicity assuming cost of acquisition as zero for land.

Land area: 10000sft 
Govt rate of land: 2000/sft
Share agreement: 60% builder, 40% landowner

Built-up area received to land owner as per share 10000 sft

Govt rate of apt: 2500/sft
Cost of construction: 1500/sft

What is LTCG if nothing is sold?

What is LTCG and STCG if all of it, i.e 10000sft is sold at 4000/sft