Capital gains

Share This Thread
  1. Sai Karthik

    Sai Karthik New Member

    Hiiiiiiiii all,

    I am a member of Mysore bank cooperative society from 1969-2011.When i was member i was allotted a site in 1970 with possession certificate.But i have registered the same in 1988 for a consideration of 4500/-.In 2012 i have constructed apartments on the same.And in 2013 i have sold my flat for a consideration of 30Lacks.

    And for that construction purpose i incurred 20 Lacs.

    As land was aquired before three years it is long term,and building constructed in 2012 it is short term.Am i right?

    If it was right,how to separate land and building values?

    Please clarify?
Draft saved Draft deleted
Similar Threads Forum Date
Set off capital loss with long term capital gains from sale house Income Tax Saturday at 10:45 AM
Cost of Acquisition for Capital Gains Income Tax Thursday at 12:18 PM
Long term capital gains on sale of property Income Tax Aug 27, 2017
Long term capital gains on equity shares Income Tax Aug 17, 2017
Capital gains on shares (RSU and ESPP) exercised at NASDAQ? Income Tax Jul 25, 2017