Capital gains calculation
CA RaviKumar (Chartered Accountant) (64 Points)
20 March 2017CA RaviKumar (Chartered Accountant) (64 Points)
20 March 2017
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 20 March 2017
can any one tell me whether indexation for cost of improvement has to be calculated for each of the 3 years in question on the above ?
CA V KARTHICK
(Chartered Accountant in Practice)
(506 Points)
Replied 20 March 2017
For the land it would be Long-Term Capital gain as it has been Held for more than 3 Years.
For the House the Date of Completion would taken for determining the period of Holding. Since the Date is in FY 2015-16 it will be a short term Capital Gain.
The Sale Proceeds are to be splitted between Land and House Property and respective captial Gains needs to be calculated.