Query on LTCG on Land & Building

DEVARAJAN GOPALAKRISHNAN (10 Points)

23 July 2024  

Greetings. Devarajan [61 yrs] a private service retired person. Have 2 questions on Long Term Capital Gains. Please help 

(1) Bought a land in May 2005 , constructed [self - not thru any builder or contractor] a single storey residential property by June 2006, and the same got disposed  on 4th March 2024

(2) While calculating the LTCG for FY 23-24, 

                 (a) Am I supposed to take only the land value for arriving at the indexed value or to include the construction cost also with land value ?

                 (b) If land value to be alone taken for arriving at the indexed one, then how to treat the cost of construction ? A depreciated value ?