How to determine the capital gain

CA Sandeep Bohra (Practicing chartered accountant )   (102 Points)

12 June 2018  

I purchased a land of rs, 900000 on 16.02.2016. After that i started to construct a residential house on that land from 12/12/2016 and my cost was rs 160000. I sold entire property for rs 300000 on 26.03.18

Now while calculating capital gain, land has completed 24 months and 10 days while house is less than 24 months.

Should i consider entire gain as long term gain and constuction should be cost of improvement?

or should i consider long term and short term but in this case i dont have seperate sale considertaion for both as i made one agreemnt fo rs 3000000.

please advice what be correct way.

thanks