if 3yers old plot value 200000 and newly construction bunglow value 300000 is sold for rs 800000 then what is capital gain? plot share is called long term and bunglow share caled short term if yes? then how to calculate plot sale value??

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On the above case Capital gain on share of Plot will be treated as a LTCG as its of more than 3 years and construction cost of bunglow will be treated as addition to plot (Additional Cost) to which no idexation will be allowed but over all Capital Gain will be 300000 only as (8l-2l after indexation -3l additional Cost)

and benefits of section 54F will also applicable to assesee 

No Bro.

may be this is not cost of improvement and for bunglow section 54f not applicable

Section 54F is applicable for all the residential property so i think it will be applicable i m searching for case law as i will get it will let you know